Heidelberg Materials expands footprint in core market Australia by acquiring Elvin Group’s business
Published by Alfie Lloyd-Perks,
Editorial Assistant
World Cement,
Heidelberg Materials’ subsidiary Hanson Australia has agreed to acquire the concrete business of the Elvin Group, the largest concrete producer in the Australian Capital Territory.
Operations include two concrete plants, a concrete laboratory, a sand blending plant, as well as an equipment and accessories supply outlet.
Through this acquisition, Heidelberg Materials brings its broad experience in sustainability and digitalisation to one of the largest regional markets in Australia.
Heidelberg Materials announced that its Australian subsidiary Hanson Australia has entered into a conditional purchase agreement to acquire the premixed concrete business of the Elvin Group, the largest concrete producer in the Canberra region. Elvin operates two concrete plants, a concrete laboratory, a sand blending plant, and an equipment and accessories supply outlet. The company employs 85 employees and contractors.
“The latest expansion of Hanson Australia’s business reflects our strong focus on strengthening our footprint in core markets,” said René Aldach, Member of the Managing Board of Heidelberg Materials and responsible for Australia. “With this bolt-on acquisition, we are expanding our vertically integrated market position and bringing our expertise in the fields of sustainability and digitalisation to one of the largest regional markets in Australia.”
The proposed acquisition has received informal merger clearance from the Australian Competition and Consumer Commission. Both parties have agreed not to disclose the financial terms of the transaction.
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Read the article online at: https://www.worldcement.com/product-news/23102024/heidelberg-materials-expands-footprint-in-core-market-australia-by-acquiring-elvin-groups-business/
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