SAN JOSE — A Japan-based cement company whose corporate maneuvers drew scrutiny from the U.S. Department of Justice bought several San Jose properties.
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Taiheiyo Cement Corp. of Tokyo, as part of a $712 million deal for the California ready-mix assets of Vulcan Materials Co. and its franchises such as Central Concrete Supply Co., now owns an array of sites, including concrete plants, in San Jose.
CalPortland Co., a Nevada-based unit of Taiheiyo Cement, paid $19.9 million to buy the Central Concrete Supply properties, according to documents filed on June 8 with the Santa Clara County Recorder’s Office.
The sites include a plant at 457 Queens Lane and another at 889 Stockton Ave., county property files show. Other properties near the corner of Stockton Avenue and Hedding Street are also among the purchased sites, according to county documents.
“This acquisition enables , a new region previously not accessed by its ready-mix business, while also strengthening its business foundation in existing operating areas in Southern California,” Taiheiyo Cement stated on June 8.
The has demanded that Taiheiyo Cement and CalPortland sell three ready-mix concrete assets in San Diego County they purchased from the owner of Central Concrete Supply. The demand doesn’t affect the San Jose properties.
The Northern California sites could help Taiheiyo Cement and CalPortland capitalize on current trends in the Bay Area tech sector.
“The Central Concrete/Vulcan assets bring CalPortland expanded opportunities in artificial intelligence-driven data center developments and attendant power infrastructure build-out,” Taiheiyo Cement stated.
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