As Aggregate Industries messes around with sites like Straitgate, other companies – run by ex-Aggregate Industries' people – have bigger things on their mind:
Acquisition of CEMEX assets and operations in the UKhttps://t.co/77yLZusOz6 pic.twitter.com/u6jVHlVAee— Breedon Group (@breedongroup) January 8, 2020
Breedon are buying a £178m slice of CEMEX:
Breedon is taking over 49 ready-mix plants, 28 aggregate quarries, four depots, one cement terminal, 14 asphalt plants and four concrete products operations. Parts of Cemex’s Paving Solutions business in the UK are also included in the sale to Breedon.
Breedon is taking over approximately 100 Cemex UK operations across six divisions in Scotland, Wales, northeast England, Norfolk, the East Midlands, and Yorkshire.
The acquisitions will increase Breedon’s mineral reserves and resources by approximately 170 million tonnes – or enough to last more than 27 years at current extraction rates.
In 2018 the Cemex UK’s assets being acquired generated revenue of £178m and EBITDA of £23m.
Pat Ward, Breedon's Group Chief Executive, previously CEO of Aggregate Industries, commented:
This is a unique opportunity to extend our national network through a single value-enhancing transaction, substantially increasing our footprint in several regions of Great Britain where we are currently underrepresented and adding approximately 170 million tonnes of mineral reserves and resources.
It’s another indication of the going rate for mineral reserves and resources. In 2018, we asked What’s Straitgate Farm worth to AI?
