Last checked at 6 Feb 2014 07:58
6 February 2014
BREEDON AGGREGATES LIMITED
("Breedon" or the "Company")
Competition Commission Review of Scottish Acquisition
Breedon notes today's publication by the Competition Commission of its Notice of Provisional Findings and Notice of Possible Remedies, following its investigation of the recent acquisition of Aggregate Industries' (AI) business in northern Scotland. It is provisionally indicating that Breedon may have to dispose of a ready-mixed concrete plant in the Peterhead area and an asphalt plant in the Aberdeen area and may need to give undertakings in respect of an asphalt plant in the Inverness area.
Breedon has 21 days to respond to the Provisional Findings and will be discussing arrangements for the possible disposals with the Commission, following which it will seek to expedite the sale of such assets as may be required in order to minimise disruption and secure the future of the small number of employees affected.
Further announcements will be made in due course.
The Company will release its preliminary results for the year ended 31 December 2013 on Tuesday 4 March 2014. The Company finished 2013 strongly and the Board remains confident of making further progress in 2014.
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Enquiries:
Breedon Aggregates Limited
Simon Vivian, Group Chief Executive
01332 694010
Stephen Jacobs, Head of Communications
07831 764592
Cenkos Securities (NOMAD and joint broker)
Max Hartley
020 7397 8900
Peel Hunt (joint broker)
Justin Jones / Mike Bell
020 7418 8900