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Terminal News

SemGroup to sell asphalt business to Ergon

SemGroup to sell asphalt business to Ergon
SemGroup Corporation will sell its asphalt business SemMaterials Mexico to Ergon Asfaltos Mexico HC.

The assets include 14 in-country terminals and two national laboratories. It is the largest supply of liquid asphalt cement products and product application services in the country and had a presence in every Mexican territory.

SemGroup intends to use proceeds from the $70 million sale towards its capital raise plan associated with the acquisition of Houston Fuel Oil Terminal Company, and to pre-fund capital growth projects.

President and CEO Carlin Conner says: 'Divesting these non-core legacy assets is an important step as we raise capital and clearly define our portfolio of uniquely-advantaged midstream services on the Gulf Coast, Mid-Continent and in Canada.'



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