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Hanson sell-off could be by year-end

Building materials giant Hanson could sell off some of its businesses – including the brick division – as early as the end of 2009, according to press speculation.

Parent company Heidelberg Cement which bought Hanson for £8bn two years ago needs to raise cash to help it deal with some £9.6bn of net debt.

As well as the brick business, the group is likely to sell the Structherm modular building and cladding division and the Formpave block paving business. However, the sale of the Thermalite aircrete block manufacturer is likely to take longer as initial interest has been at too low a price.

Hanson UK spokesman David Weekes told buildersmerchantsjournal.net that the move is “not a fire sale. It is part of a long term strategy by the parent company.”

He said that the company is in no hurry to sell the businesses at any price, and that there are reserve prices on everything. “We’re not in a position where everything must go.”

The group will keep the cement, aggregates and concrete operations as these have been identified as core businesses.

About Fiona Russell-Horne

Fiona Russell-Horne
Group Managing Editor across the BMJ portfolio.

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