Statement of Acting Bureau of Competition Director Maribeth Petrizzi Regarding Decision of Pennsylvania Cement Producers Lehigh Cement Company LLC and Keystone Cement Company to Abandon Their Proposed Merger

Following the parties decision to abandon their proposed merger, Acting Bureau of Competition Director Maribeth Petrizzi made this statement:

Metadata
Provider: 
FTCFTC
URL: 
https://www.ftc.gov/news-events/press-releases/2021/06/statement-acting-bureau-competition-director-maribeth-petrizzihttps://www.ftc.gov/news-events/press-releases/2021/06/statement-acting-bureau-competition-director-maribeth-petrizzi
Retrieved on: 
Friday, June 4, 2021
Information
Tags: 
Building materials, Concrete, Lehigh Valley, Geography of New Jersey, Geography of Pennsylvania, HeidelbergCement, Portland cement, Cement
Summary
Key Points: 
  • Following the parties decision to abandon their proposed merger, Acting Bureau of Competition Director Maribeth Petrizzi made this statement:

    This is great news for cement customers in eastern Pennsylvania and western New Jersey.

  • The FTC voted 4-0 to challenge this transaction because it would have reduced the number of significant competitors in the market for gray portland cement in this region from four to three.
  • On May 20, 2021, the Commission announced that it voted to file an administrative complaint and authorize staff to seek a temporary restraining order and preliminary injunction in federal court to stop Lehigh Cement Company LLCs proposed $151 million acquisition of Keystone Cement Company.
  • The FTC alleged that the proposed acquisition would harm competition in the market for gray portland cement in eastern Pennsylvania and western New Jersey, reducing the number of significant competitors from four to three.
Copyright: 
2021 FTC. All Rights Reserved.