DALLAS, Jan. 11 /PRNewswire-FirstCall/ -- Eagle Materials Inc.
(NYSE: EXP and EXP.B) announced today that it has completed the purchase of
the remaining interest in Illinois Cement Company joint venture. The purchase
price was $72 million in cash for the 50% joint venture interest. EXP funded
this transaction primarily from borrowings under a new $350 million senior
credit facility led by JPMorgan. Illinois Cement Company was originally
formed in 1972 and operates a cement plant in LaSalle, Illinois.
Eagle Materials Inc. is a Dallas-based company that manufactures and
distributes Cement, Gypsum Wallboard, Recycled Paperboard and Concrete and
Aggregates.
Forward-Looking Statements. This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933,
Section 21E of the Securities Exchange Act of 1934 and the Private Securities
Litigation Reform Act of 1995. Forward-looking statements may be identified
by the context of the statement and generally arise when the Company is
discussing its beliefs, estimates or expectations. These statements are not
guarantees of future performance and involve a number of risks and
uncertainties. Actual results and outcomes may differ materially from what is
expressed or forecast in such forward-looking statements. The principal risks
and uncertainties that may affect the company's actual performance include the
following: the cyclical and seasonal nature of the Company's business; public
infrastructure expenditures; adverse weather; availability of raw materials;
unexpected operational difficulties; governmental regulation and changes in
governmental and public policy; changes in economic conditions specific to any
one or more of the Company's markets; competition; announced increases in
capacity in the gypsum wallboard and cement industries; general economic
conditions; and interest rates. These and other factors are described in the
Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2004
and in its Quarterly Report on Form 10-Q for the fiscal quarter ended
September 30, 2004. These reports are filed with the Securities and Exchange
Commission.
SOURCE Eagle Materials Inc.
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Related links:
http://www.eaglematerials.com
CONTACT:
Steven R. Rowley, President & CEO, or Arthur
R. Zunker, Jr., Senior Vice President & CFO, both of Eagle
Materials Inc., +1-214-432-2000
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