UK building materials firm in foreign ownership
HeidelbergCement’s bid for Hanson is set to result in the last UK-owned major building materials firm falling into foreign hands.
If the German giant succeeds with its offer, it will also mark the end for a company built up into a major multinational in the 1970s and 1980s by founder Lord Hanson and his business partner, Lord White.
Hanson’s 50 years worth of mineral reserves are seen as a key attraction of the company to Heidelberg. The German firm could also tie the business up with its UK-based Castle Cement operation.
Other UK building material firms now under foreign ownership include:
Nippon Sheet Glass buys Pilkington – 2006
The UK’s biggest glass maker was bought by Japanese firm Nippon Sheet Glass for £2.2bn (€3.2bn) in June last year.
Pilkington, formed in 1826, grew into one of the world’s largest manufacturers of glass and glazing products before attracting Nippon, which had built a 20% stake in the business.
The deal was overseen by Pilkington chairman Nigel Rudd, who now heads up the board of takeover candidate Alliance Boots.
