Readymix Group has sold pre-cast concrete products business of the on both sides of the Border to Co Tyrone manufacturer Acheson & Glover for more than £33 million sterling (€49 million).
The deal will see Acheson & Glover increase its workforce from 450 to 770 through the move and includes plants in Ballygawley, Co Tyrone; Newry and Carrowdore, Co Down; and a retail outlet in Omagh, Co Tyrone.
Included in the sale is a concrete works in Wells, Somerset, a sales office in Glasgow and concrete plants at Waterford and Blessington.
The business sold had a turnover of £37.7 million and earnings before interest, tax, depreciation and amortisation of just over £5 million in the year to the end of December 2006. The business had net assets of £25.7 million as of June 30th this year.
Acheson & Glover is a leading manufacturer of paving and flagstones, masonry blocks, retaining walls, bricks, precast stairs, concrete, blocks and quarried stone.
It has facilities in Dungannon, Magherafelt and Toome, Co Tyrone; Carryduff and Bangor, Co Down; as well as Dublin and a sales office in Birmingham.