- Published: Monday, 27 June 2011 18:02
- Written by Cement Americas News
Sources: Ceratech Inc., Alexandria, Va.; Staff reports
Only three months after announcing that third-largest coal producer Alpha Natural Resources had acquired a 10.3 percent of its business (with an option to increase the stake to 28.3 under certain future terms), Ceratech has accepted another strategic equity investment from Colombian cement giant Cementos Argos, the fourth-largest U.S. concrete producer. The buy-in follows Argos' recent expansion of its U.S. presence through a $760 million purchase of Lafarge North America's Southeastern assets. The two companies will cooperate to develop and distribute Ceratech binder products through Argos’ Mid-Atlantic, Southeast and Southwest markets.