Anglo American sells Tarmac Building Products
Anglo American has reached an agreement to sell Tarmac Building Products to Lafarge Tarmac.
The terms of the deal are not being revealed and TBP and Lafarge Tarmac operations will continue to operate independently until the sale is approved by the authorities.
The transaction is expected to close in the first half of 2014.
Lafarge Tarmac has been trading since January and is a joint venture between Lafarge and Anglo American’s Tarmac business.
It currently combines both company’s cement & lime, aggregates, readymix concrete, asphalt and asphalt surfacing, maintenance services, and waste services businesses.
TBP is the UK’s largest supplier of heavy building products employing 800 people across the UK.
Cyrille Ragoucy, CEO of Lafarge Tarmac said: “TBP offers a close fit with our existing business, which will add value for us and our customers, while also securing TBP’s long term future.
“The deal will also open up new opportunities for Lafarge Tarmac particularly in the house-building sector.”
TBP has been up for sale since 2007 when Anglo American decided to concentrate on its core mining business.
The proposed deal will now be referred to the competition authorities for approval.
