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Asphalt firm re-jigs

Tarmac and Lafarge have upped their stakes in an Essex asphalt business to 50 per cent each.

Harlow Asphalt was originally set up as a manufacturing joint venture between the materials firm and two others, Lafarge and Foster Yeoman, with each holding an equal one third stake in the business.

Now Tarmac and Lafarge have bought the slice owned by Foster Yeoman, which was picked up by Aggregate Industries in 2006, to form a 50-50 joint venture.

The nine members of staff at the plant have been transferred into Tarmac’s employment as it will be responsible for running it under the terms of the joint venture deal.

The plant produces around 120,000 tonnes of asphalt a year some of which will be supplied to Aggregate Industries under the new agreement.