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May 15, 2007

HeidelbergCement to Buy Hanson for $15.8B

HeidelbergCement AG, Heidelberg, Germany, has agreed to buy Hanson plc for about £8 billion (US$15.8 billion). The transaction forms the second largest building materials group worldwide.
 
HeidelbergCement is one of the top producers of building materials worldwide, with its core products being cement, ready-mixed concrete and concrete products, aggregates, building materials and other products. It had sales in 2006 of €9 billion (US$12.2 billion).
 
Hanson supplies heavy building materials to the construction industry, with sales of £4.1 billion (US$7.9 billion) in 2006. Its products fall into two categories: aggregates, which includes crushed rock, sand and gravel, ready-mixed concrete, asphalt and cement-related products; and building products, including concrete pipes, pre-cast products, concrete pavers, tiles and clay bricks.
 
The acquisition will be made by Lehigh, a wholly-owned direct subsidiary of HeidelbergCement.

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