Takuechi Finance Takuechi Finance
Follow us on Twitter Follow us on LinkedIn Follow us on Instagram
Daily construction news
Weekly plant news

Construction News

Fri April 20 2018

Related Information
Related Information
Related Information
Related Information

News » International » HeidelbergCement buys recycled materials business » published 1 Feb 2018

HeidelbergCement buys recycled materials business

HeidelbergCement has bought Australian business Alex Fraser Group, which provides recycled construction materials and asphalt.

The purchase has been made through HeidelbergCement’s Australian subsidiary Hanson Holdings Australia. Swire Investments (Australia) sold the Alex Fraser business for about €135m.

“The acquisition represents an important step for Hanson Australia and it further strengthens the market position in the urban centres of Melbourne and Brisbane,” said Dr Bernd Scheifele, chairman of the managing board of HeidelbergCement. “In particular it will provide Hanson Australia with expertise in asphalt and construction materials recycling that complements the existing business and can be leveraged for entry into other markets. It is fully in-line with our strategy of value creating acquisitions, and we are expecting significant synergies.”

Alex Fraser, which was established in 1879, operates three facilities in Melbourne and two in Brisbane. It also produces asphalt out of two plants in Melbourne. Alex Fraser will retain its brand and continue to operate as a stand-alone business.

 

MPU

Download our free construction news iPhone / iPad app. Sign up to our FREE email newsletters or subscribe to our RSS feed for regular updates on the latest Construction News, Plant News & Contract News. The Construction Index also provides the latest Construction Tenders, Construction Market Data & Construction Law Commentary all FREE.

This article was published on 1 Feb 2018 (last updated on 1 Feb 2018).

More News Channels