|This Slide: #65 of 100|
Slide #65. Cementos Argos — Vulcan Materials Florida Cement And Concrete Assets
Vulcan Materials Florida Cement And Concrete Assets (NYSE:VMC)
Vulcan Materials Company (NYSE: VMC), the nation's largest producer of construction aggregates, announced today that it has entered into a definitive agreement to sell the Company's cement and concrete businesses in the Florida area to Cementos Argos for gross cash proceeds of $720 million. Vulcan is retaining all of its aggregates operations in Florida. As part of the transaction, the Company has entered into a supply agreement to continue to provide aggregates to the divested concrete facilities, at market prices, for a period of 20 years. The transaction, which is subject to regulatory approval under the Hart-Scott-Rodino Act and customary closing conditions, is expected to close in the first quarter of 2014.
Buy (3.21 out of 4)
(ranked higher than approx. 50% of all stocks covered)
Based on Zacks ABR data;
powered by Xignite