Steel giant Mittal is to buy Lafarge’s UK construction materials operations as well as Tarmac’s 50% ownership in Midland Quarry Products for up to £285M, the firm announced today.
Lafarge and Tarmac owner Anglo American have agreed the sale following a probe by the Competition Commission which cleared plans to merge Lafarge UK and Tarmac in May provided the firms sell some of their plants.
The sale to Mittal involves:
- Tarmac’s 50% ownership interest in Midland Quarry Products
- Cement plant in Hope, Derbyshire, with a capacity of 1.4M tonnes, plus related depots
- Network of 172 ready mix concrete plants;
- Five aggregates quarries, two asphalt plants, one marine aggregates wharf and one rail-linked aggregates depot
A small number of sites on the Commission’s divestment list will not be sold to Mittal Investments and will be divested separately. These sites are Tarmac Selby and Thirsk RMX, and Lafarge Greenock, Newport and Whisby RMX.
Completion of the Tarmac-Lafarge UK merger is due early next year