TULSA, Okla., March 15, 2018 (GLOBE NEWSWIRE) -- SemGroup® Corporation (NYSE:SEMG) today announced that it has completed the sale of its asphalt business, SemMaterials México, to Ergon Asfaltos México HC, LLC, for approximately $72 million including working capital, subject to customary post-closing adjustments.
“I want to thank our employees in Mexico who helped build this business into a market leader,” said SemGroup President and Chief Executive Officer Carlin Conner. “We are pleased to execute this transaction in a timely manner as we pursue growth in our strategic focus areas of Canada, the Mid-Continent and the Gulf Coast. While we will miss our colleagues in Mexico, I’m confident they will thrive with Ergon.”
Based in Tulsa, Okla., SemGroup® Corporation (NYSE:SEMG) is a publicly traded midstream service company providing the energy industry the means to move products from the wellhead to the wholesale marketplace. SemGroup provides diversified services for end-users and consumers of crude oil, natural gas, natural gas liquids, refined products, residual fuel oil and asphalt. Services include purchasing, selling, processing, transporting, terminalling and storing energy.
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