Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Angus construction firm Breedon to sell quarries to satisfy watchdog

Breedon's Ethiebeaton quarry site in Angus.
Breedon's Ethiebeaton quarry site in Angus.

Construction materials giant Breedon plans to dispose of two of its Scottish quarries to satisfy the competitions watchdog over a £178 million acquisition.

Breedon, which has its Scottish headquarters at Ethiebeaton in Angus, was warned last month by the Competitions and Markets Authority (CMA) that it intended to dig deeper into competition concerns at plans to purchase sites owned by Cemex.

The watchdog said it was concerned the deal could lessen competition and lead to higher prices and lower quality building materials.

Breedon has responded by announcing its intention to sell a small number of ready-mixed concrete plants and an asphalt plant in England, and two quarries and a cement terminal in Scotland.

Watchdog warns £178m deal could lead to price ‘alignment’ in East of Scotland

The firm said: “Breedon welcomes today’s announcement from the Competition and Markets Authority that it has reasonable grounds for believing that the undertakings offered by Breedon in connection with its completed acquisition of certain assets and operations from Cemex, or a modified version of them, might be acceptable.

“The company fully expects to be able to finalise the required undertakings to the CMA’s satisfaction and complete the required divestments in the near future, paving the way for the integration of the remaining former Cemex assets into the group later this year.

Breedon lorry

“Until that time they will continue to be held separate from Breedon and operated as Pinnacle Construction Materials.

“The company will make further announcements in due course.”

The company has not revealed the assets it intends to sell.

Breedon announced in January this year it had agreed a £178m deal to buy approximately 100 Cemex sites, including aggregates quarries, ready-mixed concrete facilities, asphalt plants and a cement terminal, across the UK.

Breedon said it had completed the acquisition on July 31.

Already a subscriber? Sign in

[[title]]

[[text]]