Lafarge has announced the sale of its cement and concrete assets in the southeast United States to the Colombia-based conglomerate Cementos Argos for an enterprise value of US$760 million.
The cement assets sold include the Harleyville cement plant in South Carolina and the Roberta cement plant in Alabama, a cement grinding station in Atlanta (Georgia), and associated supporting cement terminals. Lafarge is also selling its ready-mix concrete units in this area of the US. The total revenues of these divested businesses were approximately US$240 million in 2010.
After completion of the deal, subject to the approval of competition authorities, Lafarge's North America operations will consist of 21 cement and grinding plants with a combined capacity of 19 million t, as well as significant positions in our other product lines.
Bruno Lafont, Chairman and Chief Executive Officer of Lafarge, said: "North America is an essential pillar for the Group, where we have the ambition to be the undisputed leader in the building materials industry. This transaction creates value for our shareholders while maintaining a strong network of operations for future growth in North America".
Read the article online at: https://www.worldcement.com/the-americas/12052011/lafarge_sells_harleyville_and_roberta_plants/