North / South America
Rumor Central - Argos set to acquire Vulcan's cement and concrete assets?
Nov, 19 2013
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Rumor has it that Vulcan Materials is set to sell all ready mix operations acquired from the 4+ billion dollar purchase of Florida Rock to Colombian based Argos.
This is said to include cement mills and concrete block operations. No aggregate operations are rumored to be included.
If this is true, Argos will be a major player in the Florida markets and will have increased its footprint in the Virginia markets as well for ready mix concrete production. Argos has been aggressively seeking an opportunity to expand, while Vulcan has aggressively fought off hostile takeovers from long time rival Martin Marietta.
When looking at the profiles of each company, this alleged rumor makes a lot of sense for both. This will get Vulcan some much needed capitol to fend off any future take over attempts, while also allowing them to focus on what they do best; aggregates. Argos would then become a top producer in the Southeast US for ready mix concrete.
Argos is no stranger to ready mix production. Adding a large operation in Florida and Virginia will put them on track to be the largest producer in the southeast.
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