Solite, Inc.'s parent company Giant Cement Holding, Inc. sells to Cementos Portland

Nov. 4, 1999 - Giant Cement Holding Incorporated, based in Summerville, SC, has announced that it will be bought by Cementos Portland, based in Spain, for $343.4 million.

Giant Cement is the country's 15th-largest cement producer. It is the parent company of Solite, Incorporated. Cementos Portland is Spain's second-largest cement group.

Giant Cement Chairman Gary Pechota said, "Additionally, the strength of the combined companies will benefit Giant Cement's employees and customers. This transaction ... positions Giant to be a strong competitor in a rapidly consolidating industry."