NRMCA Producer member Argos announced last week that it has agreed to purchase the South Georgia- and Florida-based cement and ready mixed concrete assets of NRMCA Producer member Vulcan Materials Company for $720 million. The assets to be acquired in the transaction include a cement plant in Newberry, FL, 69 ready mixed concrete plants with a fleet of 372 mixer trucks and an annual production capacity of 4.3 million cubic yards; and 13 concrete block production plants with a capacity of 109 million units per year. The transaction is subject to regulatory approval in the U.S. and is expected to close in the first quarter of 2014. With this additional capacity, Argos will become one of the leading producers of cement in the southeast United States and among the 20 largest cement companies in the world, the company said.

 

Cementos Argos S.A. (OTCMKTS: CMTOY US and CMTRY US) is a Colombia-based company engaged in the production of cement, aggregates and concrete products. The company operates cement and concrete production plants located throughout Colombia, Central America, the Caribbean and the United States. The Argos USA operation currently includes 238 ready mix plants, two cement plants, one grinding facility, and 10 cement terminals, located throughout Alabama, Arkansas, Georgia, Florida, Mississippi, North Carolina, South Carolina, Texas and Virginia. Vulcan Materials Company is the nation's largest producer of construction aggregates, a major producer of asphalt mix and concrete and a leading producer of cement in Florida.

Source: Argos USA news release.