Lafarge believed to be selling aggregates operations to Vulcan
Oct, 05 2011
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(Brussels, Belgium) -- Lafarge is expected to announce the sale of its Calera, Citadel & Lakeshore operations in the Birmingham, Alabama area to Vulcan Materials Company.
The southeastern Aggregates Division was not included in the recent sale of assets to Cementos Argos back in May 2011. This $US 760 million transaction consisted of; 79 ready mixed plants in Georgia, Alabama and Louisiana, cement plants in Harleyville, S.C., and Roberta, Alabama, plus Atlanta-area clinker grinding mill; and, six cement terminals (five rail, one port).
As quoted by an anonymous source – “Lafarge did not receive offers for its aggregates business that were near what we considered to be 50% of the value of our South East Aggregates business when Argos purchased the other product lines back in May”.
Lafarge continues its aggressive disposal of US assets, and is putting pressure on the likes of HeidelbergCement (trading as Lehigh Hanson and Hanson in the USA) to follow suit. The proceeds from the sale to Argos, coupled with the proceeds from this sale to Vulcan will help differentiate the balance sheets |
