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