Nokomis concrete company bought by Titan subsidiary
6/2/2006
Nokomis concrete company bought
STAFF REPORT Sarasota Herald Tribune
NOKOMIS -- A subsidiary of Greece's Titan Cement Co. bought Miami Valley Concrete, a Nokomis-based company with plants in Ellenton, Placida and Punta Gorda.
Terms of the sale, the third for Tarmac America LLC since March, were not disclosed.
Miami Valley employs about 85.
The attraction for Tarmac to Southwest Florida, as with so many businesses in the construction trade, was the region's growth.
"There's a real building boom in Florida," said Kate McClain, a spokeswoman for Tarmac America. "We had an excellent presence up and down the east coast of Florida and we needed to get a foothold on the west coast."
This year, Tarmac bought Metro Red-Mix Co. and Elbrecht Concrete in Tampa and Fort Myers, respectively.
"This third acquisition puts us in an excellent position for supplying construction materials to our customers on Florida's west coast," said Hardy Johnson, president of Titan America's Florida business.
The Greek company's Titan America LLC unit is based in Norfolk, Va., and serves the eastern United States. Athens-based Titan makes ready-mix concrete, fly ash, concrete blocks, dry mortars, aggregates and other construction materials.
The company operates 10 cement plants and 70 ready-mix concrete plants, with about 40 percent of its business coming from the United States.
Titan has been in news lately for its expansion efforts: it is looking at a 73.7 percent stake in Spain's Uniland.
