Lafarge sold to South America’s Cementos Argos

FROM STAFF REPORTS

Lafarge announced on May 12 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 $760 million, according to a Lafarge press release.

The assets sold include the Shelby County Roberta cement plant in Calera, the Harleyville cement plant in South Carolina, a cement grinding station in Atlanta and associated area supporting cement terminals, the press release stated.

Lafarge is also selling its ready-mix concrete units in the southeast area of the United States. The total revenues of these businesses were approximately $240 million in 2010.

Argos is a producer of cement and ready mix with a presence in Colombia, United States and the Caribbean; Argos posted sales of $1.6 billion in 2010. In the cement business, Argos is the fifth largest cement producer in Latin America, the press release stated.