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| HeidelbergCement owns 100% of Hanson's share capital The coming into effect of the scheme of arrangement completed the acquisition by HeidelbergCement of the British building materials manufacturer Hanson PLC. By the end of July, the Hanson shareholders had given their consent to the takeover bid at an Extraordinary General Meeting. The U.S. Federal Trade Commission and the European Commission granted their approval in the first week of August. Approval from the High Court of Justice in England and Wales was finally issued last week. By acquiring Hanson, HeidelbergCement is significantly strengthening its positions in the aggregates business (sand and gravel). While HeidelbergCement has focused primarily on the cement business until now, Hanson is a leading company in aggregates and further downstream building materials. Likewise, the two companies complement each other excellently in terms of their geographical positioning. HeidelbergCement is strengthening its market positions in the important markets of North America and the United Kingdom on a long-term basis. In addition, HeidelbergCement is gaining a presence in new, attractive regions such as Australia, Malaysia, Israel and Spain, where it has, until now, had little or no representation. write your comments about the article :: © 2007 Construction News :: home page |