Summit Materials to combine business with Argos USA

Argos RobertaPlant

What has been announced in July this year has been completed last week. Summit Materials successfully combined their business with Argos USA for a transition of US$ 3.2 billion.  In the USA, Argos has an installed cement grinding capacity of 9.6 Mta from its 4 integrated cement plants (photo: Roberta cement plant) and 2 grinding mills, as well as about 140 ready-mix plants. Approximately 85% of Argos’ USA EBITDA is generated from its cement platform. Under the terms of the agreement, Cementos Argos will receive about $1.2 billion in cash (~40% of transaction value) subject to closing adjustments and about 54.7 million shares of Summit stock (~60% of transaction value).