HeidelbergCement completes cement plant sale
HeidelbergCement completed the sale of its Martinsburg, West Virginia, cement plant and eight related terminals to an affiliate of Cementos Argos.
The companies originally announced the sale on Aug. 18.
“With the disposal of the U.S. assets, we fulfill the obligation of the FTC (Federal Trade Commission) and improve the net financial position of HeidelbergCement after the acquisition of Italcementi,” says Bernd Scheifele, CEO of HeidelbergCement. “Thereby, we have fulfilled all the obligations in the context of the Italcementi acquisition.”
The cement plant and terminals will be purchased for $660 million.
HeidelbergCement is an integrated manufacturer of building materials with market positions in aggregate, cement and ready-mixed concrete. Following the acquisition of Italcementi, the company employs about 62,000 people at more than 3,000 locations in around 60 countries.
About the Author: Allison Kral
Allison Kral is the former senior digital media manager for North Coast Media (NCM). She completed her undergraduate degree at Ohio University where she received a Bachelor of Science in magazine journalism from the E.W. Scripps School of Journalism. She works across a number of digital platforms, which include creating e-newsletters, writing articles and posting across social media sites. She also creates content for NCM's Portable Plants magazine, GPS World magazine and Geospatial Solutions. Her understanding of the ever-changing digital media world allows her to quickly grasp what a target audience desires and create content that is appealing and relevant for any client across any platform.Subscribe to Pit & Quarry
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