HeidelbergCement completes sale of U.S. assets
December 6, 2016 By HeidelbergCement
December 6, 2016 – HeidelbergCement completed the sale of its Martinsburg, West Virginia cement plant and eight related terminals to an affiliate of Cementos Argos on Nov. 30, 2016. Previously, the Federal Trade Commission (FTC) had approved the agreement.
“With the disposal of the U.S. assets we fulfill the obligation of the FTC and improve the net financial position of HeidelbergCement after the acquisition of Italcementi,” said Dr. Bernd Scheifele, CEO of HeidelbergCement. “Thereby we have fulfilled all the obligations in the context of the Italcementi acquisition.”
HeidelbergCement and Cementos Argos announced the sale on August 18, 2016. The transaction purchase price is USD $660 million on a cash and debt-free basis.
HeidelbergCement is one of the world’s largest integrated manufacturers of building materials with leading market positions in aggregates, cement, and ready-mixed concrete. Following the acquisition of Italcementi, the company employs some 62,000 people at more than 3,000 locations in around 60 countries.
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