Vulcan Materials sells Florida cement and concrete assets for $720M Vulcan Materials 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 $720M. Vulcan is retaining all of its aggregates operations in Florida. The company will continue to provide aggregates to the divested concrete facilities, at market prices, for a period of 20 years. The transaction is expected to close in Q1. The completion of the asset sale to Cementos Argos and related restructuring and other transaction-related expenses will result in a pretax gain of approximately $210M, or $1.00 per diluted share. The company expects to record a one-time charge of approximately 37c per diluted share.
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