(Alliance News) - SigmaRoc PLC on Friday said it has entered a "strategic collaboration" Marshalls PLC to develop ultra-low carbon products for the concrete building materials sector.
Shares in SigmaRoc were trading up 3.5% at 114.40 pence each in London on Friday morning following the announcement. Marshalls shares were flat at 813.50p.
The quarried materials group noted plans to develop new technology for an "environmentally conscious" marketplace with Marshalls, a West Yorkshire, England-based manufacturer of natural stone and concrete products for the construction and landscaping markets.
"The aim of this collaboration is to share learnings in the application of current technologies while working together to develop new low carbon methods of production," said SigmaRoc.
FTSE 250 constituent Marshalls will receive a low-carbon alternative to its product range as part of the deal, the company added.
"By entering into a collaboration with SigmaRoc we envisage being able to give our customers the opportunity to use an ultra-low carbon alternative to a variety of traditional hard landscaping and construction products. We aim to significantly lessen the long-term environmental impact of hard landscaping solutions in alignment with our ambitious [environmental, social, and corporate governance] targets," said Marshalls Technical Director Nick Jowett.
Despite its usual focus on major infrastructure work, SigmaRoc said the collaboration is focused on residential and urban projects, which make up a substantial segment of UK construction activity.
"Ultimately, we see the collaboration as another stepping stone in our commitment to invest, improve, integrate and create a sustainable future for construction," said Michael Roddy, managing director of the Precast Products Group, SigmaRoc's concrete manufacturing platform.
By Scarlett Butler; scarlettbutler@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Marshalls (MSLH)
Sigmaroc. (SRC)