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[January 2005]
Hanson Acquires Marshall's Clay Products Division
On 4 January 2005 Hanson PLC completed the acquisition of Marshalls Clay Products Ltd from Marshalls PLC for a total consideration of 65 million.
Marshalls Clay Products is a UK manufacturer of clay bricks and pavers operating from four facilities in the north of England. It produces approximately 160 million brick equivalents per annum and employs 350 people. In the year to 31 December 2004, Hanson expects Marshalls Clay Products' earnings before interest and tax to be approximately 7 million (before group charges).
The acquisition will be integrated into Hanson Building Products UK, a division of Hanson PLC, which is one of the UK's leading suppliers of clay bricks, concrete blocks, pre-cast concrete flooring and bagged aggregates. Combining the two businesses will significantly enhance earnings through operational and administrative savings.
David Szymanski, Managing Director of Hanson Building Products UK, said: "We are very pleased to be acquiring Marshalls Clay Products. It brings good long-term clay reserves, fits well with our product range and will strengthen our customer offering in extruded bricks and clay pavers".
ENDS