Hanson sold

German cement maker Heidelberg Cement has agreed to buy UK-based Hanson for UK£ 8 billion (US$ 16 billion) to create the world's second-largest construction materials producer.

The combination of the world's fourth-largest cement maker and biggest aggregates specialist will have revenues of around € 15 billion (US$ 20 billion) and more than 70000 employees worldwide.

The combined company will be the world's largest aggregates producer, the second largest in ready-mixed concrete and the fourth largest in cement, earning 40% of revenues from North America, 16% in the UK and 30% in the rest of Europe.