Business
Completion of Sale
Completion of Sale.
About this update from Marshalls Plc
[{"type":"text","content":"\n \nRNS Number : 6660D Marshalls PLC 01 May 2013 \n \n\nCompletion of sale of quarries and associated aggregates businesses\n \nMarshalls plc (\"Marshalls\"), the specialist Landscape Products Group, is pleased to confirm that, further to the announcements made on 10 and 12 April 2013, the sale of the aggregate quarries detailed below to Breedon Aggregates England Limited has completed and that it has received a cash consideration of £17.5 million. \n \nThe assets being sold comprise quarries solely supplying aggregates, sand and gravel. The Group has retained all of its dimensional stone quarries some of which produce aggregate as an ancillary product. The quarries sold are the Group's freehold and leasehold quarries at Clearwell, near Lydney, Gloucestershire, which produce primarily high quality limestone aggregates and the Group's sand and gravel quarries located at Dunsville, near Hatfield, South Yorkshire, Astley Moss in Greater Manchester and Mold in North Wales which operates under the Lloyds Sand and Gravel trading name and the business carried on from these quarries. Also included is an option to develop sand and gravel resources near Saredon, Staffordshire. \n \nThese quarries currently supply aggregate materials to the construction sector, including materials used by Marshalls in the manufacture of its range of concrete products. For the year ended 31 December 2012, the operating profit generated from the operations carried on at these quarries was £1.1 million, based on an annual turnover of £10.0 million, of which £8.8 million came from sales outside the Group. As at 31 December 2012 the value of the gross assets disposed of was £14.9 million. \n \nThe proceeds of the sale will initially be used to reduce Marshalls' Group borrowings. \n \nEnquiries:\n\n\n\n\nGraham Holden\n\n\nChief Executive\n\n\nMarshalls plc\n\n\n01484 438900\n\n\n\n\nIan Burrell\n\n\nFinance Director\n \n\n\nMarshalls plc\n\n\n01484 438900\n\n\n\n\nJon Coles\n\n\n\n\n\nBrunswick Group\n\n\n0207 404 5959\n\n\n\n\nCharlotte Winsley\n\n\n\n\n\nBrunswick Group\n\n\n0207 404 5959\n \n\n\n\n\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCURRNROVASOAR\n ","length":4641,"tagName":"div"}]