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[January 2006]
Hanson Announces Acquisition in Florida
Hanson PLC has acquired PaverModule Inc, one of the top two suppliers of concrete pavers in Florida, USA.
Commenting on this transaction, Alan Murray, Chief Executive of Hanson PLC, said: "Florida is a very attractive market for us in the US and this acquisition extends and complements our building product operations in that region. We have made a good start to our development plans for 2006 and the pipeline of additional acquisition opportunities remains promising".
PaverModule manufactures and distributes concrete pavers across much of Florida in a wide range of colours, textures and shapes. The company operates two plants in Fort Myers, two in Pompano Beach and one in Haines City and employs approximately 170 people.
It produced around 35,000 equivalent units of concrete pavers in the year ended 31 December 2005 and turnover that year was approximately US$45 million. The book value of the gross assets acquired was around US$45 million at 31 December 2005.
Hanson's acquisition spend to date in 2006 is approximately £60 million.
www.hanson.biz
ENDS