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News HeidelbergCement completes sale of assets in the US to Cementos Argos

HeidelbergCement completes sale of assets in the US to Cementos Argos

Written by Global Cement staff 01 December 2016
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US: HeidelbergCement has completed the sale of its Martinsburg, West Virginia cement plant and eight related terminals to Cementos Argos. With the finalisation of the sale the group has now met all the obligations with regards to its acquisition of Italcementi.

“With the disposal of the US assets we fulfil the obligation of the Federal Trade Commission and improve the net financial position of HeidelbergCement after the acquisition of Italcementi,” said Bernd Scheifele, chief executive officer of HeidelbergCement.

HeidelbergCement and Cementos Argos announced the sale in August 2016. The transaction purchase price was US$660m on a cash and debt-free basis. The FTC approved the agreement in November 2016.

Last modified on 06 December 2016
Published in Global Cement News
Tagged under
  • US
  • HeidelbergCement
  • Cementos Argos
  • ESSROC
  • Italcementi
  • Sale
  • Federal Trade Commission
  • GCW280

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