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.