Vinci to buy 100 Tarmac quarries
By Chris Sleight16 February 2010
Vinci has agreed to acquire some 100 quarries from Tarmac, a subsidiary of mining company Anglo American. The sites in France, Germany, Poland and the Czech Republic have a total output of about 30 million tonnes per year.
The acquisition price was not disclosed. However, Anglo American said that this deal and the sale of its Polish concrete products business to private equity fund Innova/4 LP would bring in proceeds of around US$ 400 million (€ 300 million). Both transactions are subject to regulatory approval.
The quarries will be incorporated into Eurovia, Vinci's road building division. The company said, "By Buying Tarmac's aggregate production units Eurovia will expand its geographical presence in Europe and strengthen its industrial capacity in countries where its road construction activity is growing strongly."
The quarries employ about 1000 people and have annual sales of about € 150 million. Eurovia says the acquisition will increase its aggregate production by +40%.
Anglo American put up Tarmac for sale in mid-2007. However, a few months later the company took it off the market due to plummeting stock markets, and the fear it would not get a good price. Notwithstanding this, June 2008 saw Holcim agree to buy Tarmac's Spanish businesses for € 148 million.