Vinci to buy Salini Impregilo’s US asphalt business for $555m

Eurovia, a subsidiary of France’s Vinci Construction, is to buy a division of Italy’s Salini Impregilo Group for $555m.

Eurovia will acquire the asphalt plants and paving division of Salini subsidiary Lane Construction, which is a roadwork and industrial specialists.

Located in 10 US states on the east coast and in Texas, the business generates $600m in annual revenue and runs quarries and 40 asphalt plants.

Eurovia already has two US subsidiaries, Hubbard Construction and Blythe Construction, which operate in the states of Florida, Georgia and the Carolinas.

Once the acquisition is approved by regulators, Eurovia will become one of the largest asphalt producers in the America, with total revenue of $2.1bn.

Earlier this year Eurovia won two contracts with Spanish contractor Obrascón Huarte Lain.

Image courtesy of Vinci