HeidelbergCement gets OK to sell Martinsburg plant

July 20, 2017

The US Federal Trade Commission has approved the sale of the Essroc cement plant in Martinsburg, West Virginia.

HeidelbergCement and Italcementi have sold the the Essroc cement plant and eight cement terminals in the mid-Atlantic and related assets to Argos USA, a subsidiary of Cementos Argos.

The sale is required by the Trade Commission's August 2016 final order settling charges that the merger of Heidelberg and Italcementi would likely harm competition in five regional markets for cement in the United States.

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This follows Heidelberg Cement’s July 2015 agreement to acquire a 45% stake in the company from Italmobiliare, the holding company of the Pesenti family, which will own a significant stake in the new entity.

The German group says that the reorganisation will impact about 400 of the current 2.500 jobs in Italy until 2020, and there are likely to be redundancies.

Bergamo will remain the headquarters of t

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