Ponca City, OK

Now: 47 °F

Currently: Fair

Hi: 47 °F | Lo: 26 °F

Monday

Hi: 58 °F 

Lo: 37 °F

Tuesday

Hi: 58 °F 

Lo: 42 °F

Wednesday

Hi: 58 °F 

Lo: 41 °F

Thursday

Hi: 55 °F 

Lo: 32 °F

Friday

Hi: 55 °F 

Lo: 35 °F

Mississippi company buying asphalt business in Mexico from Tulsa’s SemGroup

The Associated Press - January 9, 2018 9:24 am

FLOWOOD, Miss. (AP) – A Mississippi company is buying the Mexican asphalt business of an Oklahoma company.

SemGroup Corp. of Tulsa, Oklahoma said Monday that it was selling the business to Ergon Inc. of Flowood, Mississippi, for an estimated $70 million.

The business includes 14 asphalt terminals and two laboratories.

Privately-held Ergon owns refineries in Mississippi and West Virginia and also has other mostly petroleum-related businesses.

SemGroup said it doesn’t see the unit as a core business, saying it will use the money to help pay for the $2.1 billion purchase of a Houston oil terminal.

The sale is supposed to be completed sometime after March 31.

Ergon Asphalt & Emulsions President Baxter Burns says the company has been interested in expanding into Mexico. Ergon says it will keep current employees and managers.

 

Latest Stories

Drilling rigs bring workers and short-term tax windfall to Oklahoma

(Information from: The Journal Record, http://www.journalrecord.com) KINGFISHER, Okla. (AP) – As drilling for oil and natural...

Body found by Oklahoma highway crew is that of missing man

OKLAHOMA CITY (AP) – The Oklahoma State Bureau of Investigation says a body found by a...

Small earthquake recorded in northwestern Oklahoma

WOODWARD, Okla. (AP) – The U.S. Geological Survey reports a small earthquake has been recorded in...