TILLICOULTRY Quarries has agreed the purchase of 14 sites from Breedon Group.
The move follows concerns by the Competition and Markets Authority (CMA) that Breedon Group’s purchase of certain assets from Cemex Investments Limited could give rise to a realistic prospect of a substantial lessening of competition in certain areas.
Subject to final confirmation by the CMA of its approval of the undertakings offered by Breedon to address these concerns, and the approval of Tillicoultry Quarries as a purchaser, the purchase is expected to be complete before the end of the year.
The CMA intends shortly to launch a public consultation inviting interested parties to submit their views.
The 14 sites include 10 RMX concrete plants in Hartlepool, Stockton, Middlesbrough, Whisby, King’s Lynn, Wisbech, Peterborough, Kidderminster, Costessey, and Snetterton; an asphalt Plant and aggregates depot in Ely; two sand and gravel quarries in Collessie and Loanleven; and a cement terminal in Dundee.
Wallace Menzies, director of Tillicoultry Quarries, said, “The purchase of these 14 new sites will allow Tillicoultry Quarries to continue to build on and invest in our existing capabilities, enhancing our offering with more of our core products and opening up in new locations.”
Pat Ward, Breedon’s group chief executive, commented, “We are very pleased with the outcome of this process and believe it is in the interests all stakeholders.
“It allows Breedon to realise fair value for the assets disposed of, which, together with the people who work in them, will be in good hands under new ownership of Tillicoultry Quarries.”