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15/04/2013
Breedon Aggregates Buys Marshalls Assets
Breedon Aggregates England Limited announced it has reached agreement and exchanged contracts to purchase certain assets from Marshalls Mono Limited (Marshalls) for an initial consideration of £17.5 million in cash.
The final consideration will be up to £19.0 million, dependent on certain conditions subsequent.
The assets to be acquired comprise freehold and leasehold quarries at: Clearwell, near Lydney, Gloucestershire, which produces primarily high quality limestone aggregates; and sand and gravel quarries located at Dunsville, near Hatfield, South Yorkshire; Astley Moss in Greater Manchester; and Mold in North Wales, which operates under the Lloyds Sand and Gravel trading name (together, the Quarries). The acquisition agreement also includes an option to develop sand and gravel resources near Saredon, Staffordshire. The Quarries will provide an additional 13 million tonnes of mineral reserves and resources to the Group and the potential for additional mineral prospects of 5 million tonnes.
The Quarries represent a move into new but contiguous markets for the Group. As announced previously, aggregate production from the Quarries was 0.9 million tonnes in 2012, generating revenue of approximately £10 million and an EBITDA of £2.3 million.
The final consideration will be up to £19.0 million, dependent on certain conditions subsequent.
The assets to be acquired comprise freehold and leasehold quarries at: Clearwell, near Lydney, Gloucestershire, which produces primarily high quality limestone aggregates; and sand and gravel quarries located at Dunsville, near Hatfield, South Yorkshire; Astley Moss in Greater Manchester; and Mold in North Wales, which operates under the Lloyds Sand and Gravel trading name (together, the Quarries). The acquisition agreement also includes an option to develop sand and gravel resources near Saredon, Staffordshire. The Quarries will provide an additional 13 million tonnes of mineral reserves and resources to the Group and the potential for additional mineral prospects of 5 million tonnes.
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The Quarries represent a move into new but contiguous markets for the Group. As announced previously, aggregate production from the Quarries was 0.9 million tonnes in 2012, generating revenue of approximately £10 million and an EBITDA of £2.3 million.
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