Hanson Building Products have put their Thermalite airecrete block business up for sale as part of a re-alignment by parent company HeidelbergCement behind their core markets.
A Hanson spokesman told buildersmerchantsjournal.net that the German conglomerate is looking to ‘realign its focus behind the core business of cement, aggregates and concrete, with a view to selling off non-core elements to raise cash”.
This means that all non-core businesses, including Hanson Building Products and Hanson Formpave, are under a business review.
The company will keep the dense aggregate blocks business, as that has pull through for both cement and aggregates and the packed products business for the same reason. The company’s UK cement division, Castle, has only recently been rebranded as Hanson Cement.
Hanson’s spokesman is very clear on one thing: “This is not a fire sale. We have had a lot of interest already in the Thermalite business which has remained relatively independent and has a lot of intrinsic value. It is part of a long term strategy by the parent company.”
Hanson bought Thermalite from the Etex group in March 2005 for £120m, and HeidelbergCement racked up $12billion in debt buying Hanson two years later.