The Hammerstone limestone quarry is located north of Fort McMurray and serves Alberta’s oil sands industry. Image: NewsFile
BURNCO Rock Products has revealed its acquisition of Hammerstone Quarry as part of a major deal for the Canadian company.
BURNCO, which has operations in Canada and the United States, has entered a share purchase agreement with Brookfield Business Partners to acquire Hammerstone Infrastructure Materials. The transaction includes Hammerstone Quarry, regarded as one of the largest in Western Canada, with an estimated more than 750 million tonnes of aggregate reserves.
BURNCO chief executive officer Tom Zais said Hammerstone was a “key operation” as a “legacy-building asset”.
“The Hammerstone business is a natural fit within our broader aggregates position in Alberta and expands our geographic and operational footprint in the province,” he said.
“The leadership group and employees at Hammerstone are focused on the operating values of safety, environmental stewardship and community engagement, which are all consistent with our commitment to people, customers and communities. We look forward to working with the Hammerstone team to further expand BURNCO’s business in Alberta.
“Adding the Hammerstone operation extends BURNCO into valuable new geography in the province and provides us with another long-term, legacy-building asset with the quarry and its reserves. Hammerstone will be a key operation for us, and we see a long runway of opportunity for the business and new employee group.”
The deal expands BURNCO’s portfolio in Northern Alberta and Alberta generally. The company has operated in the Alberta region since 1912. BURNCO also maintains operations in British Columbia, Saskatchewan, Texas and Colorado, with a focus on paving asphalt and ready-mix concrete.
“Hammerstone’s leadership group and employees are extremely pleased to be joining BURNCO. The acquisition is a great outcome for our operation,” Hammerstone chief executive officer and president Nick Laganiere said.
“BURNCO knows our business, understands what we have built in the Fort McMurray area over the past 15 years, and plans to support and fund future business opportunities with us.”
The closing of the transaction is subject to receipt of approvals under the Competition Act of Canada and other customary closing conditions.
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