Tarmac up for sale

Mining company Anglo American has put its aggregates business Tarmac up for sale. The business has a strong presence in the UK, with further operations in other parts of Europe as well as the Middle East.

Anglo American CEO Cynthia Carroll said, “In May I announced that we were evaluating Tarmac’s fit within our portfolio of assets, and as a result of this review we have decided that Tarmac is not core to the future development of Anglo American as a focused mining company and a sale process will be initiated.”

Anglo American has reportedly received expressions of interest from private equity companies as well as other materials producers. It expects to conclude the sale in the first half of next year.