HeidelbergCement completes U.S. assets sale to Cementos Argos

HeidelbergCement, through its subsidiaries Essroc Corp. and Lehigh Hanson, Inc., has entered into a definitive agreement with Argos USA LLC, a subsidiary of Cementos Argos, to sell its Martinsburg, West Virginia cement plant and eight related terminals.

The U.S. disposal was required by Federal Trade Commission (FTC) Decision and Order to address competition concerns arising from the Italcementi acquisition. The agreement is subject to the approval of the FTC and other customary closing conditions. The

HeidelbergCement has completed the sale of operations in Belgium, primarily consisting of Italcementi’s Belgian subsidiary Compagnie des Ciments Belges, to an affiliate of Cementir Holding.

Previously, the European Commission had approved the agreement.

The transaction has an enterprise value of €312 million on a cash and debt-free basis.

“With the disposal of the Belgium assets we fulfill the obligation of the European Commission and improve the net financial position of HeidelbergCement after th

HeidelbergCement and Italcementi have reached an agreement with the United States Federal Trade Commission to allow HeidelbergCement’s acquisition of the Italian cement firm to proceed on schedule. The proposed divestment of operations in the US, primarily consisting of Italcementi’s Martinsburg, West Virginia cement plant and up to eleven terminals, was accepted by the Federal Trade Commission. All competition approvals necessary for closing the Italcementi acquisition have now been obtained, a statement r