Mississippi company buys asphalt business

A Mississippi company is buying the mexican asphalt business of an Oklahoma company.

Semgroup corporation of Tulsa is selling the business to Ergon Incorporated 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.

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

Ergon says it will keep current employees and managers.