USA: FTC approves HeidelbergCement divestiture

The US Federal Trade Commission (FTC) has given its approval to an application from HeidelbergCement and Italcementi for the divestiture of the Essroc Martinsburg cement plant in West Virginia and eight cement terminals, local newspaper the Morning Call reports.

The plant and terminals are to be acquired by Cementos Argos for US$660m. The divestiture was required by the FTC to preserve competition in the face of the merger of HeidelbergCement and Italcementi.

The deal was originally agreed in July 2015, but was contingent upon FTC approval.