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Lafarge Sells Cement and Concrete Assets in Southeast for $760 Million

Lafarge announces the sale of its cement and concrete assets in the southeast United States to the Colombia-based conglomerate Cementos Argos for an enterprise value of $760 million.

The cement assets sold include the Harleyville cement plant in South Carolina and the Roberta cement plant in Alabama; a cement-grinding station in Atlanta; and associated supporting cement terminals. Lafarge is also selling its ready-mix concrete units in this area of the U.S. The total revenues of these divested businesses were approximately $240 million in 2010.

After completion of the deal, subject to the approval of competition authorities, Lafarge's North America operations will consist of 21 cement and grinding plants with a combined capacity of 19 million tons, as well as significant positions in our other product lines.

Bruno Lafont, chairman and chief executive officer of Lafarge, 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."