The Financial Times reported in May that the Spanish construction conglomerate FCC, which owns the companies that own Dragon Products Company, is selling its U.S. cement subsidiary.

Plant Manager Ray DeGrass said his office has not received any official information about the sale. He said he has not received any notification of buyers or negotiations, but has seen articles in the foreign press about the sale.

“On local issues, I can promise you it’s business as usual at Dragon,” he said.

Any change would take months to happen if it took place, he said. “Any company is for sale at the right price,” he added.

He said employees have been talking about the situation, but said it was “nothing more than water fountain talk.”

According to, FCC plans to sell its U.S. cement subsidiary, Cementos Portland Valderrivas as part of the Spanish construction company’s effort to protect its bottom line. DeGrass said FCC owns Cementos Portland Valderrivas, which in turn has Giant Cement Holding Inc., which owns Dragon.

FCC is looking to lower its net debt, reports state.

“Cementos Portland Valderrivas… is in discussions with potential buyers of three cement works and a number of smaller gravel and ready-mix concrete plants in the U.S., according to “The sale is expected to raise between $600 million to $700 million and has attracted interest from South American buyers.”

There is strong interest from a number of Brazilian players, seeing an opportunity to establish a presence in the U.S., according to The potential buyers are betting on a U.S. construction recovery, according to the online reports.

DeGrass said no one knows when this sector will come back. For now, he said construction has flatlined in the bottom of the curve.

“I don’t see any growth in New England,” he said. The company has had a tough time, he acknowledged.

The Dragon Products cement plant in Thomaston has the capacity to produce 700,000 tons of cement every year. It has reported having more than 100 employees in the past.

The plant and the quarry occupy about 1,123 acres. It produces six different kinds of cement and masonry used in Maine, Canada, New Hampshire and the Boston area.

Its products are shipped by barges, trucks and rail.