Argos, which has a presence in Colombia, United States and the Caribbean, has aquired a range of cement and ready-mix plants in the southern USA. They include a cement plant in Roberta, Alabama, with an installed capacity of 1.6 million tonnes of cement per year; a cement grinding station in Atlanta, Georgia, 79 ready-mix plants, 347 ready-mix trucks; five rail terminals and a terminal with port facilities.
"The purchase of these assets has two relevant aspects in line with the company's strategy: first, the location fits perfectly with Argos' existing footprint in the southeast of the United States; and second, the acquisition of cement plants and rail terminals enables the company to generate significant synergies by consolidating its vertical integration strategy within its existing ready mix operations," said CEO of Cementos Argos José Vélez.
Lafarge chairman and chief executive officer Bruno Lafont 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".
The purchase is subject to the approval of US competition authorities. It will bring Argos' installed capacity in the USA 3.2 million tonnes of cement and about 10 million cubic meters of ready-mix per year;
With this acquisition, Argos becomes the second largest cement producer in the southeast United States and the fourth largest ready-mix producer.
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