Hanson plc chairman optimistic about Pioneer
At this morning's AGM, Christopher Collins, chairman, made the following comments regarding the acquisition of Pioneer International Ltd and the outlook for Hanson.
Pioneer acquisition - The acquisition has inevitably been a long and complex process. We have not received final approval from the UK competition authorities, but discussions are going well and we believe we should be able to complete the deal soon.
The acquisition of Pioneer is a major step forward. The fit with this leading heavy building materials company is excellent. It increases our market positions in the USA and UK. It advances our geographic diversification. We will be much stronger in Europe and South East Asia and will gain a leading position in Australia a with more platforms for future growth.
