|
contents | news | |||||||||
| Holcim announces recommended cash offer for Foster Yeoman Aggregate Industries Limited, a wholly owned subsidiary of Holcim Ltd, has made a recommended cash offer to acquire the entire issued share capital of Foster Yeoman Limited, the privately-held UK heavy building materials group. Aggregate Industries has received irrevocable undertakings to accept the offer in respect of, in aggregate, approximately 68.3 per cent of Foster Yeoman's existing issued ordinary share capital. These undertakings will remain binding in the event of any competing offer. Foster Yeoman owns Torr Works, a limestone quarry in England, and the Glensanda quarry, a granite quarry in Scotland, which together have almost 1 billion tonnes of raw material reserves. Foster Yeoman's sales activities are supported by a network of depots across the UK and a network of sales points at major ports in Northern and Western Continental Europe. In the financial year ended 27 May 2005, Foster Yeoman had sales of approximately GBP 224 million and sold more than 11 million tonnes of aggregates and about 1.5 million tonnes of asphalt. write your comments about the article :: © 2006 Construction News :: home page |