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Lafarge Sells $760 Million in U.S. Assets in Rating Drive

Lafarge SA, the world’s biggest cement producer, agreed to sell U.S. assets with an enterprise value of $760 million to Colombia’s Cementos Argos SA as the French company aims to regain an investment-grade credit rating.

The facilities being sold include cement plants in Harleyville, South Carolina, and Roberta, Alabama, a grinding station in Atlanta and ready-mix concrete units across the southeast U.S., Paris-based Lafarge said today in a statement. Revenue from the divested businesses totaled about $240 million in 2010.