Aggregate Industries secures further investment in
Norway through Halsvik Aggregates
Aggregate Industries, a leading international
supplier of construction and building materials, has purchased the
remaining 50 per cent share of its Norwegian joint venture, Halsvik
Aggregates AS.
A member of the Holcim Group of companies,
Aggregate Industries’ purchase of this remaining interest in
Halsvik Aggregates will mean significant investment in Norway,
through the creation of additional production capacity and
increased employment opportunities, together with the development
of local facilities for the benefit of the local Gulen and Kvalsund
communities. Aggregate Industries’ full ownership of Halsvik
Aggregates will also help Halsvik Aggregates to maximise synergies
with Holcim’s value added outlets on the Continent. The wholly
owned Halsvik Aggregates will be a part of Aggregate Industries’
Overseas Businesses and with Yeoman Glensanda, formed as a result
of the recent acquisition of Foster Yeoman, will
significantly strengthen Aggregate Industries’ position in the
export aggregates market.
Aggregate Industries became a partner in
Halsvik Aggregates, with Wergeland Holdings, in 1997. Over the past
10 years the Halsvik business has grown substantially through the
combined support of the two owners to its current position as
arguably the most successful quarrying operation in Norway, with
combined annual aggregate sales volumes well in excess of
two-and-a-half million tonnes. Aggregate Industries will continue
to work with Wergeland Holdings to support the continuing
prosperity of both the Wergeland companies and Halsvik Aggregates
in the local areas.
Stone from the two Halsvik quarries is used in
a wide range of markets and applications, including the oil and gas
industry for covering pipelines in the North and Barents Seas and
in road and rail construction as well as throughout the general
construction industry in concrete and asphalt production.
Commenting on the purchase, Geoff Parkin,
Managing Director of Aggregate Industries’ Overseas Businesses,
said:
“Aggregate Industries’ purchase of Halsvik
Aggregates will bring significant benefits, both in terms of
investment in the local communities, which is very important to us,
and the opportunities it will provide for our future development. I
would like to thank Wergeland Holdings’ team for their support in
making this company the success it is today. I am also delighted to
welcome all of the Halsvik Aggregates employees into the Aggregate
Industries group and we look forward to the certain success their
expertise and experience will add to our operations.”