Wednesday, 10 April 2013

AI sells off Scottish assets

Aggregate Industries has sold more than just its South-West HQ this time. Breedon Aggregates has announced today the purchase of a number of AI's Scottish assets for £34m, namely:

        6 active quarries, 4 asphalt plants, 7 ready-mixed concrete plants & 2 concrete block plants

Breedon chairman and ex-AI boss Peter Tom hopes the deal, which also includes "five inactive quarries" and positions "itself for work on the A9 upgrade and the controversial Aberdeen western by-pass", will allow it "to benefit from any UK economic recovery". AI presumably does not share Breedon's confidence. Either that, or AI's Swiss parent Holcim is asset stripping, seeing more future in the growth prospects of India and the Asia Pacific region.