Trading begins for new joint venture on the UK’s cement scene

Lafarge Tarmac, the new 50:50 joint venture between Lafarge and Anglo American, has begun trading. The venture combines the companies’ UK cement, aggregates, ready-mix concrete and asphalt operations, as well as maintenance and waste services. The new venture came to completion following the sale of a portfolio of Tarmac and Lafarge operations in the UK, after the Competition Commission granted final clearance. The agreed sale of Tarmac’s 50% ownership interest in Midland Quarry Products is still pending, subject to a right of pre-emption in favour of Hanson Quarry Products Europe Ltd.

“The closing of this transaction and the creation of a new British construction materials champion reinforce Lafarge's ongoing commitment to the UK market and its efforts to continuously improve its offering to customers, as well as playing a full role in developing the infrastructure needed for a growing economy,” stated Bruno Lafont, Chairman and Chief Executive of Lafarge.

Commenting on the venture, Cynthia Carroll, Chief Executive of Anglo American, said: “We have successfully united two high quality and complementary UK businesses to create the leading UK construction materials company, with high quality assets, two experienced management teams, and a portfolio of well-recognised, innovative brands.”

Adapted from press release by Louise Fordham.

Read the article online at: https://www.worldcement.com/europe-cis/08012013/cement_lafarge_tarmac_anglo_american_joint_venture_816/