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[November 2002]
Hanson Announces European Bolt-On Acquisitions
Hanson PLC, through its European division Hanson Building Materials Europe (HBME), has completed five bolt-on acquisitions totalling £47.7 million.The acquisitions, which all occurred in the second half of 2002, bring four additional quarries in Spain and further UK production outlets for concrete products, clay bricks and bagged aggregates. They are in addition to two quarries which HBME added to its operations in the Czech Republic in May.
The clay products acquisition involves Hanson Brick, the UK's second largest brick manufacturer, which has acquired a soft mud brick factory at Measham from the Red Bank Manufacturing Co.
Soft mud or stock bricks are increasingly popular with housebuilders and represent approximately one-third of total UK brick sales. In addition to the Red Bank factory, Hanson manufactures soft mud bricks at three factories in the South East of England.
It also imports soft mud products under the Desimpel brand name. With production of around 17 million bricks per annum and capacity to increase output, Red Bank provides Hanson with a stronger position in this growing market.
ENDS