Lafarge sold to South America’s Cementos Argos
Published 1:20 pm Thursday, May 12, 2011
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.