USA: Bessemer Cement partly under Argos ownership

USA: Bessemer Cement partly under Argos ownership
10 January 2017

Argos USA purchased 13.92 acres of the 114 acre Bessemer Cement plant site from Essroc Cement Corp for US$1,226,026 in November 2016, according to a deed of transfer from the local recorders Office, reports New Castle News.

Jeff Sieg of Lehigh Hanson Inc explained to New Castle News that the sale was part of a Federal Trade Commission required divesture of certain assets related to HeidelbegCement's acquisition of Italcementi.

In a press release last August, HeidelbergCement announced that through its subsidiaries Essroc Corp and Lehigh Hanson, Inc, it had entered into a definitive agreement with Argos USA LLC, a subsidiary of Cementos Argos, to sell its Martinsburg (WV) cement plant and eight other terminals, including Bessemer's.

However, before the sale was finalised, the company had to wait for the Fair Trade Commission to decide how to address competition concerns arising from HeidelbergCement's acquisition of Italcementi. These issues were expected to be resolved by the 4Q16.

Local residents had been questioning whether the long-vacant plant had been sold following the recent appearance of a sign on the plant gate stating "Argos Bessemer Terminal."

In 1990 Essroc bought the plant which was then taken over by Italcementi in 1992 before closing in 2009. The plant has remained idle since.

Published under Cement News