Breedon said that the decision to close most of its operations was taken “to ensure the safety and wellbeing of our colleagues, subcontractors, customers and communities” in light of the government’s lockdown this week.
Breedon also revealed that the Covid-19 crisis had meant delay to the completion of certain Cemex assets. In January Breedon agreed to pay Cemex £178m for 100 of its UK operations, including 49 ready-mix plants, 28 aggregate quarries, four depots, one cement terminal, 14 asphalt plants and four concrete products operations.
“Completion of our acquisition of certain of Cemex's UK assets remains subject to satisfactory conditions being met, including a TUPE consultation and IT migration,” Breddon said today. “In light of Covid-19, completion may take longer than originally anticipated. We continue to believe that these well-located, resource-backed assets will enable us over time to create significant additional value for shareholders.”