Construction materials specialist SigmaRoc PLC (LON:SRC) unveiled the €13mln acquisition of Belgian concrete assets alongside the formation of a second construction materials platform.
The purchases of B-Mix Beton and Casters Beton will bring aboard businesses that generated €22mln of annual turnover and underlying earnings (EBITDA) of €1.5mln in 2020.
"The combination of B-Mix and Casters is a very attractive opportunity. Located along key waterways the combined plants will benefit from significant efficiencies,” said chairman David Barrett.
“The Limburg province also remains an attractive market for concrete with Antwerp and Liege on either side. This is a significant further step in the evolution of our operations in the Benelux market."
In the same update, SigmaRoc said it decided to separate its European heavy-side materials operations into two separate platforms.
Carrieres du Hainaut will continue as a dimension stone platform, the company said, while a new integrated concrete and construction aggregates platform will be created to include GDH, Stone Holdings, B-Mix and Casters.
Investors were also told the group secured an option to buy 11 hectares of quayside industrial land next to the Albert Canal, one of Belgium’s busiest shipping lanes. It will cost €9mln to exercise.