ON 2 March the construction materials businesses of Anglo Industrial Minerals (AIM) were formally merged with Tarmac plc to create a new market-leading business with a turnover in excess of £1.4 billion.
The takeover was given the green light after Competition Minister Kim Howells accepted Anglo American's divestment undertakings and confirmed that he would not be referring the deal to the Competition Commission. AIM have stated that all disposals required by the competition authorities will be completed by the end of August.
The merger makes Anglo American the UK's market leader in aggregates and asphalt, and second only to RMC in ready-mixed concrete. Under the deal, Tilcon, Nash Rocks, Tarmac Quarry Products and Tarmac Topmix are to merge and, together with Tarmac Concrete Products and Tarmac's overseas operations, will form a 'new' Tarmac group.
Within this group, quarry products and asphalt will be sold under the Tarmac name, concrete will be sold under that of Tarmac Topmix, and mortar and certain industrial products will continue to be traded under the Tilcon name. Cement and lime will remain under the banner of Buxton Lime Industries.
Robbie Robertson, chief executive officer of AIM, said: 'We decided to retain the Tarmac name on the basis of independent market research and we believe it will be the strongest name in the industry. The 'new' Tarmac Group will be a powerful, focused and dynamic business with particular strength in the UK and plenty of opportunity to grow, especially in continental Europe.'