Click HERE for an aerial view of the Cumming location.
A Cumming quarry soon will be under new ownership.
Lafarge North America Inc. on Thursday announced it has signed binding agreements to sell the local quarry and five others in Georgia.
The six sites have a total enterprise value of $160 million.
Joelle Lipski-Rockwood, director of communications for Lafarge, said the deal likely would be completed within the next couple of months.
“As far as when the transaction will be finalized, we sign the deal and then there are some regulatory approvals that need to happen,” she said. “So the closing of the deal can be anywhere between 30 and 90 days, just depending on how long that process takes.”
It was not immediately clear who is buying the quarries. Lipski-Rockwood said she could not comment on that aspect of the deal, although she did say there are two different buyers.
The Cumming location, as well as quarries in Ball Ground, Douglasville and Clayton County will be sold to one party, while sites in Flowery Branch and Jackson County will go to another.
“I would anticipate that once it’s all finalized and the transaction is closed that an official announcement by the buyer[s] will be made but at this time, I’m not at liberty to say [who are buyers are],” she said.
The six quarries employ a total of about 80 people, she said, with the Cumming facility employing about 20.
“As far as any changes, I can’t speak for what the new buyer might do,” she said. “But as part of the transaction they are taking the quarry, its operations, as well as most of the employees that are associated with those affected businesses.”
The assets in the sale involve less than 1 percent of Lafarge’s sales in North America in 2011.
Lafarge North America Inc. has more than 270 industrial and distribution sites and 4,200 employees in 41 states and in its U.S. cement, aggregate, concrete and gypsum business.