A subsidiary of Holcim, the world’s second largest cement maker and owner of Midlands-based Aggregate Industries, has acquired Tarmac’s Spanish operation.
Holcim Spain said it agreed to buy ready-mix concrete and aggregates maker Tarmac Iberia from Anglo American in a deal worth almost £120 million.
The deal remains subject to regulatory approval and is expected to close in September 2008, the Swiss cement maker said yesterday.
In 2007, Madrid-based Tarmac Iberia sold 2.8 million cubic metres of ready-mix concrete and 7.8 million tonnes of aggregates bringing in net sales of £161 million.
Its primary markets are in Greater Madrid, the Mediterranean coast and Catalonia. Tarmac Iberia operates 46 ready mixed concrete plants in Spain, with some producing mortar. It operates a granite and three limestone quarries and three siliceous aggregates sites.
Holcim said the acquisition would strengthen the Holcim Spain business in the centre of the country and on the Mediterranean coast and would also open up synergy opportunities.