First publishedon www.AggBusiness.com
’s Australian subsidiary Hanson
Holdings Australia Pty Limited (Hanson Australia) has acquired Alex Fraser Group, a leading provider of recycled construction materials and asphalt in Australia, from Swire Investments (Australia) Ltd for around €135 million.
“The acquisition represents an important step for Hanson Australia and it further strengthens the market position in the urban centers of Melbourne and Brisbane,” explains Dr. Bernd Scheifele, chairman of the managing board of HeidelbergCement. “In particular it will provide Hanson Australia with expertise in asphalt and construction materials recycling that complements the existing business and can be leveraged for entry into other markets. It is fully in-line with our strategy of value creating acquisitions, and we are expecting significant synergies.”
Established in 1879, Alex Fraser has become Australia's leading provider of recycled construction materials and operates three facilities in Melbourne and two in Brisbane. It also produces asphalt out of two plants in Melbourne. Alex Fraser is expected to generate €20 million of EBITDA in 2018 (including synergies of approximately €3 million). Alex Fraser will retain its brand and continue to operate as a stand-alone business.