FRENCH FIRM BUYS LOCAL ASPHALT, PAVING BUSINESS

The Delta Companies and Southern Illinois Companies have become a part of one of the largest paving and materials companies in the world Colas SA of Paris, France.

A contract for the purchase of all capital stock of the Delta Companies and Southern Illinois Companies by Colas SA was signed late last Thursday.

"The new parent corporation will be known as Delta Companies Inc.," said Donald L. Harrison, founder of Delta Asphalt Co. The new parent company is a wholly owned subsidiary of Colas U.S. Inc. of Short Hills, N.J., which is a subsidiary of Colas SA.

Harrison, who will remain as chairman of the board and chief executive officer with the Delta Companies Inc., said that since this was a stock transaction there will be no change in the corporate names or organizations.

"All operations will remain as they are and will be managed and supervised by existing personnel," said Harrison.

Joe Regenhardt, who is currently with the company, will become president and chief operating officer and Delwin Elfrink will serve as vice president and chief financial officer of the Delta Companies.

William M. Regenhardt will retire, but will become a consultant to the Illinois operations. Thomas E. Regenhardt will retire from Southern Illinois Stone Co.

Colas SA of Paris and its affiliates operate more than 300 asphalt plants in the U.S., Canada, France, Eastern Europe, Western Europe, Africa and Indonesia.

The Delta Companies and Southern Illinois Companies owned and operated 15 subsidiary companies including a number of asphalt plants, concrete plants, stone quarries and sand and gravel pits in Missouri, Illinois, Arkansas and Louisiana, with home offices in Cape Girardeau.

Locally, Delta Asphalt Inc.; Girardeau Contractors Inc.; Delta Concrete Inc. and Southeast Missouri Stone are operated by the Delta Companies.

The Southern Illinois Companies operate asphalt and concrete plants at Mount Vernon, and a quarry near Marion.

When Delta Asphalt Inc. was founded in 1964, it was strictly a local paving company, said Harrison. "Over a period of 28 years, the company grew to include facilities in four states," said Harrison.

Colas SA of Paris was founded by Shell Oil Co., and now has more than $2.5 billion in assets.

Since this is a private stock transaction, no financial details will be released, Harrison said.