Product category:
Concrete, Cement, Admixtures
News Release from: Aggregate Industries UK
Edited by the Buildingtalk Editorial
Team on 17 September 2007
Aggregate Industries further investment
in Norway
Aggregate Industries 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 This will be done through the creation of additional production capacity and increased employment opportunities, the company currently employs more than 30 people, together with the development of local facilities for the benefit of the local Gulen and Kvalsund communities
This article was originally published on Buildingtalk on 28 May 2007 at 8.00am (UK)
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Aggregate Industries' full ownership of Halsvik Aggregates will also help the company 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.
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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".
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