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Aggregate Industries expands in UK

MATERIALS

AGGREGATE Industries is planning to increase its UK quarrying activities following the takeover of Foster Yeoman.

Foster Yeoman is a £244 million turnover business, which was largely family-owned.

Aggregate Industries chief executive Bill Bolsover said the company has significant mineral resources and that the Torr Works limestone quarry in England and Glensanda granite quarry in Scotland would be further developed.

Together they have planned and unplanned reserves of around 1 billion tonnes.

Mr Bolsover said Foster has strong logistical advantages using both shipping and rail delivery. The firm also has a network of depots and 'virtual' quarries at ports in northern and western Europe.

Mr Bolsover said the company had an ethos and culture that blended in well with Aggregate Industries.

He added: 'We have long admired Foster Yeoman for its strong management team and dedicated employees and look forward to working with them to develop and grow the combined business.'

Aggregate Industries has also made a further purchase in the US, paying £126.6 million for the Meyer Material Company in Illinois, an aggregates and ready mix concrete supplier.

Mr Bolsover said: 'This is the seventh region we have gone into and it expands our workforce by some 1,5002,000 employees.

'Our development in the USA is an ongoing programme, which shows the support we have had from Holcim in developing this side of the business.'

Swiss cement and aggregates producer Holcim, which bought Aggregate Industries last year, has a dual expansion strategy for cement and aggregate products in the USA.