Cementos Argos is now the fourth largest cement plant in the United States after the Federal Trade Commission approved the acquisition of the 2.2Mta Martinsburg cement plant and the eight product dispatch and receipt terminals for US$660m.
The assets acquired open the door to new markets in the states of Pennsylvania, Maryland, District of Columbia, New York, New Jersey and Ohio. Cementos Argos has expanded its presence in the United States, reaching 13 states and increasing its production capacity by 29 per cent in the country.
Speaking last Friday, Juan Esteban Calle, Cementos Argos CEO said: "Today we are pleased to announce the official completion of this transaction as well as the start of operations for the new cement plant and its terminals under our business model and culture; we welcome our new 200 collaborators into Argos. This acquisition not only strengthens our internationalisation strategy, but also enables us to incorporate knowledge as well as generate greater synergies and efficiencies, contributing this way to the consolidation of our BEST programme."
