Cyrille Ragoucy, CEO of Lafarge Tarmac said: “TBP offers a close fit with our existing business, which will add value for us and our customers, while also securing TBP’s long term future. The deal will also open up new opportunities for Lafarge Tarmac particularly in the house-building sector.”
Lafarge Tarmac is the British building materials company formed from a 50:50 joint venture between Anglo American and Lafarge following the necessary approvals from the
Lafarge Tarmac is already one of TBP’s largest suppliers, and the current process is now in the hands of the competition authorities. It is believed that Lafarge Tarmac will make a filing with the
It is understood that both TBP and Lafarge Tarmac operations will continue to operate independently until such approvals are obtained.
In February 2011 Anglo American and Lafarge announced their intention to merge their British construction materials businesses, excluding Lafarge's UK gypsum activities, and in September 2011 the proposed transaction was referred to the Competition Commission by the Office of Fair Trading. The merger was completed in March 2013.
TBP is one of the UK's leading suppliers of heavy building materials, and produces products such as blocks, mortar, bagged aggregates and bagged cement, and until 2010 it was part of the Tarmac Group. This heritage (brand, culture, locations and product range) complements Lafarge Tarmac’s existing business. Indeed, the company shares offices with Lafarge Tarmac at Ettingshall, West Midlands region, and Buxton, County Derbyshire.
The decision to sell TBP, which has been up for sale since 2007 and which has 800 employees across the UK, is in line with Anglo American’s strategy to focus on its core mining portfolio.
TBP is heavily exposed to growth sectors with approximately 80% of its revenues being derived from the housing and housing retail, maintenance and improvement sectors.
