Italian infrastructure firm Salini Impregilo acquired U.S. based Lane Industries Inc., a highway contractor and private asphalt producer.
The value of the acquisition is approximately $406 million and combined company sales of $6.4 billion.
Lane has satellite offices in Maine, Florida, Texas, North Carolina, Virginia, Pennsylvania and Illinois. The company works on highways, bridges and airports in the United States, but it also has international operations in the Middle East. It claims annual revenues of more than $1 billion.
Salini Impregilo works on infrastructure projects, and specializes in hydropower and dams including the expansion of the Panama Canal. Headquartered in Italy, it employs more than 30,000 people internationally.