FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Rule 13a
- 16 or 15d - 16 of
The Securities and Exchange Act of 1934
For the Month of June, 2005
HANSON PLC
1 Grosvenor Place, London, SW1X 7JH, England
[Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40F.]
Form 20-F X Form 40-F
[Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.]
Yes No X
June 23, 2005
Hanson announces US bolt-on acquisitions of approximately £100 million and
disposal of 50% interest in US ready-mixed concrete joint-venture
Hanson PLC, the international building materials company, today announces four
recently completed acquisitions in the USA for a total cost of approximately
£100 million. This brings the total acquisition spend for Hanson so far this
year to close to £300 million.
In addition, Hanson has disposed of its 50% interest in Campbell Concrete and
Materials ("Campbells"), a ready-mixed concrete business operating in Houston,
Texas.
Commenting on these transactions, Alan Murray, Chief Executive of Hanson PLC,
said: "All of these development initiatives are examples of our strategy in
action. The three acquisitions in California are an excellent fit with our
existing operations and include valuable long-term aggregates reserves in a
market we know well. Sherman Pipe expands our building products' footprint in
Alabama and Georgia. The Campbells disposal completes our withdrawal from
ready-mixed concrete in Texas. I'm very pleased with development progress to
date and we will continue to look for further bolt-on acquisition opportunities
this year."
Mission Valley Rock Company, Berkeley Ready Mix Company and Berkeley Asphalt
Company
Hanson has acquired 100% of the commonly owned stock of Mission Valley Rock
Company, Berkeley Ready Mix Company and Berkeley Asphalt Company. The three
companies were privately owned entities and are engaged in aggregates,
ready-mixed concrete and asphalt businesses in the San Francisco Bay area of
northern California.
Mission Valley Rock Company produces around 2 million tons of aggregates per
annum from its quarry located near Sunol, approximately 30 miles from the centre
of San Francisco. With an estimated 60 million tons of permitted aggregate
reserves, the company controls some of the largest remaining reserves of
increasingly scarce land-based aggregates in the San Francisco Bay area. In
addition to its quarry operation, Mission Valley Rock operates a sand
distribution business at the port of San Francisco.
Berkeley Ready Mix operates three ready-mixed concrete facilities in the San
Francisco Bay area at Sunol, Berkeley and Oakland. Berkeley Asphalt has two
asphalt plants in Sunol and Berkeley.
These three companies had combined turnover of approximately $75 million for the
financial year ended March 31, 2005 and combined net assets of approximately $30
million at March 31, 2005. The businesses will be integrated into Hanson
Aggregates North America's existing operations in northern California, where
Hanson is already a leading supplier of aggregates and cement.
Sherman Pipe
Hanson is expanding its strong position in the US concrete pipe and products
market by acquiring the fixed assets and inventory of Sherman Pipe, a concrete
pipe and pre-cast concrete products business operating in Alabama and Georgia,
from Lehigh Cement Company, a wholly owned subsidiary of HeidelbergCement AG.
Sherman Pipe will be integrated into Hanson Building Products North America. It
strengthens Hanson's position in Alabama and provides a new manufacturing
presence in Georgia. Sherman Pipe has six plants in Alabama which complement the
two plants owned by Hanson in that state. Sherman Pipe also has four plants in
Georgia, a state which Hanson previously supplied from plants in neighbouring
Florida and South Carolina.
Sherman Pipe produced around 630,000 tons of concrete pipe and products in the
year ended December 31, 2004. Turnover for that year was approximately $72
million, and the book value of the net assets to be acquired was approximately
$40 million at December 31, 2004.
Campbells
Hanson has sold its 50% interest in Campbells, a ready-mixed concrete business
operating in Houston, Texas, to its joint-venture partner, Lehigh Cement
Company, a wholly owned subsidiary of HeidelbergCement AG.
The disposal follows Hanson's sale, in 2003, of its 50% holding in North Texas
Cement Company and its wholly owned Texas ready-mixed concrete operations.
Hanson will continue to be a leading aggregates producer in Texas and has agreed
supply arrangements covering the aggregates sales it makes to Campbells.
Campbells produced and sold over 2 million cubic yards of ready-mixed concrete
in the year ended December 31, 2004 and had net assets at that date of
approximately $120 million.
Further information on Hanson can be found at www.hanson.biz
Inquiries: Nick Swift / Carol Ann Walsh
Hanson PLC
Tel: +44 (0)20 7245 1245
Notes:
Forward-looking statements made in this press release involve risks and uncertainties that could cause actual results to differ materially from those contemplated by such statements. Factors that could cause such differences are set out in detail in Hanson's Annual Report and Form 20-F and include, but are not limited to, changes in economic conditions; changes in governmental policy or legislation that could effect regulatory compliance and other operating costs especially in the USA, the UK and Australia; changes in governmental policy or legislation relating to public works expenditure and housing; potential liabilities arising out of former businesses and activities; our inability to achieve success in our acquisition strategy; the competitive market in which we operate; disruption to, or increased costs of, the supply of raw materials, energy and fuel to our business; inclement weather conditions; exchange rate fluctuations; and ineffective implementation of computer software systems. Hanson undertakes no obligation to update or revise publicly such forward looking statements, whether as a result of new information, future events or otherwise.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorised.
HANSON PLC
By:
/s/ Graham Dransfield
Date: June 23, 2005