Global construction materials maker CRH is nearing an agreement to acquire Florida-based cement company Suwannee American Cement from Votorantim Cimentos and Anderson Columbia to drive further growth in the US.
This is according to a report on financial news service Bloomberg, who quote people familiar with the matter.
The companies could announce an agreement as early as this week, the sources said.
The deal may value Suwannee at about $750m, they stated.
But while the talks are advanced, they could still be delayed or fall apart and the valuation could change, the sources added.
Votorantim Cimentos is a Brazilian cement maker and Anderson Columbia is a highway construction firm.
The planned acquisition follows a string of deals for CRH, which last month agreed to buy family-controlled Ash Grove Cement, also based in the US, in a $3.5 billion deal.
CRH - a serial buyer and seller of assets - announced in August the disposal of an interior building-products division for $2.63 billion to Beacon Roofing Supply.
The purchase of Suwannee will further focus CRH on growth in North America, where it already bills itself as the region's largest building-materials company.
CRH was seen as being one of the biggest potential gainers from an earlier pledge by US President Donald Trump of massive investment in infrastructure.
Trump has since thrown that plan into question by telling politicians in a closed meeting last week that public-private partnerships are not the solution.
Even though a final infrastructure plan has yet to materialise, increased demand in the country for building materials like cement and aggregates is also underpinning the growth outlook of rivals including LafargeHolcim of Switzerland and Germany’s HeidelbergCement.
