The new company, called Lafarge Tarmac, combines the UK cement, aggregates, ready-mix concrete, asphalt and asphalt surfacing, maintenance services, and waste services businesses of Anglo American鈥檚 Tarmac subsidiary and Lafarge.
The two companies expect to generate synergies of 拢60m through the merger.
Completion of the joint venture follows final clearance from the Competition Commission and the required sale of a portfolio of Tarmac and Lafarge construction materials operations in the UK. This sale, , completed yesterday.
The agreed sale of Tarmac's 50% ownership interest in Midland Quarry Products is subject to a right of pre-emption in favour of Hanson Quarry Products Europe and, as a result, the completion of this transaction is pending.
Anglo American chief executive Cynthia Carroll said: "We have successfully united two high quality and complementary UK businesses to create the leading UK construction materials company, with high quality assets, two experienced management teams, and a portfolio of well-recognised, innovative brands."
Lafarge chairman & chief executive Bruno Lafont added: "The closing of this transaction and the creation of a new British construction materials champion reinforces Lafarge's ongoing commitment to the UK market and its efforts to continuously improve its offering to customers, as well as playing a full role in developing the infrastructure needed for a growing economy."
the Lafarge Tarmac leadership team includes Cyrille Ragoucy as CEO, Guy Young as CFO and Jamie Pike as non-executive chairman.
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