Vulcan sells Florida cement, concrete assets for $720 million

January 24, 2014

vulcan-materials-logoVulcan Materials Company announced Thursday that it is selling its cement and concrete businesses in the Florida area to Cementos Argos for $720 million in cash proceeds.

The assets, located in Florida and south Georgia, include Vulcan’s Newberry, Florida cement plant, Tampa and Port Manatee cement terminals and grinding facilities, 69 ready-mixed concrete sites and 13 concrete block and building material sites.

Vulcan will retain all of its aggregates operations in Florida, as well as its cement segment’s ground calcium operations.

A part of the transaction, Vulcan will continue to provide aggregates to the divested concrete facilities for 20 years.

Vulcan notes that the transaction is subject to the regulatory approval under the Hart-Scott-Rodino Act and customary closing conditions.

The transaction is expected to close in the first quarter of 2014.

For more details about the transaction, click here.

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