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Roadbuilding | Concrete

August 23, 2006

Ashland sells its highway division

LOUISVILLE, Ky.

Ashland Inc. has agreed to sell its highway construction division to Oldcastle Materials Inc. for $1.3 billion US.

The sale of Ashland Paving And Construction to Oldcastle, a subsidiary of Ireland-based CRH PLC, is expected to close by the end of August, said Covington, Ky.-based Ashland.

APAC, with about 9,700 employees, operates in 14 Southern and Midwestern states. It has 93 facilities where rock, sand and gravel are produced, 31 ready-mix concrete plants, 226 hot-mix asphalt plants and more than 13,000 pieces of mobile equipment.

ASSOCIATED PRESS

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