Anglo American Plc - Anglo Industrial Minerals Exp
aggregates and ready-mixed concrete operations
ANGLO AMERICAN PLC
JSE Code: AGL
ISIN Code: GB0004901517
News Release
Anglo Industrial Minerals expands its Spanish aggregates and ready-mixed
concrete operations
Anglo American plc is pleased to announce that its wholly owned subsidiary
Tarmac, part of the Anglo Industrial Minerals division, has reached an
agreement to acquire the aggregates and ready-mixed concrete ("ready-mix")
assets of the Mavike Group in Spain for a total cash consideration of Euro
59 million. Completion is subject to approval by the Spanish competition
authorities.
The Mavike Group is based in the Alicante region on the Spanish
Mediterranean coast. The assets to be acquired comprise a quarry, 26 ready-
mix plants located along the Mediterranean coast, principally in Alicante
and Murcia, and three ready-mix plants in Madrid. Steetley Iberia, Tarmac's
existing business in Spain, operates predominantly in Madrid where it is a
leading aggregates and ready-mix player.
Commenting on the acquisition, Robbie Robertson, Chief Executive of Anglo
Industrial Minerals, said: "This is a value enhancing acquisition which is
consistent with our strategy of growing our business in Spain. It will
consolidate our position in the Madrid market as well as expanding the
business into an area with attractive growth prospects."
2 May 2002
For further information:
Anglo American
Investor Relations Media Relations
Nick von Schirnding Kate Aindow
Tel: +44 20 7698 8540 Tel: +44 20 7698 8619
Johannesburg:
Investor Relations Media Relations
Anne Dunn Marion Dixon
Tel: +27 11 638 4730 Tel: +27 11 638 3001
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
