Lafarge Tarmac to acquire Tarmac Building Products
Anglo American reach agreement to sell TBP to Lafarge Tarmac, subject to regulatory approvals
LAFARGE Tarmac announced today that they have entered into an agreement with Anglo American to purchase Tarmac Building Products (TBP), subject to regulatory approvals.
TBP, who employ around 800 staff across the UK and share offices with Lafarge Tarmac at Ettingshall and Buxton, are one of the UK’s leading suppliers of heavy building materials, including blocks, mortar, bagged aggregates and cement products.
Until 2012, TBP were part of the Tarmac Group, and this heritage – brand, culture, locations, product range etc – is said to complement Lafarge Tarmac’s existing business. Lafarge Tarmac are also one of TBP’s biggest suppliers.
The decision to sell TBP, which has been up for sale since 2007, is understood to be in line with Anglo American’s strategy to focus on their core mining portfolio. The transaction is expected to close in the first half of 2014.
Cyrille Ragoucy (pictured), chief executive officer 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.’
The terms of the transaction are confidential and the deal will be subject to regulatory approvals. Both TBP and Lafarge Tarmac operations will continue to operate independently until such approvals are obtained.