More than 20 concrete plants and 40 quarries will be added to Heidelberg Materials’ assets after the company agreed to buy Maas Group Holdings’ construction materials business for a cool $1.7 billion.
Based in Dubbo, Maas is selling its 22 ready-mixed concrete plants, 40 quarries with combined reserves for more than 350 million tonnes, two asphalt operations, and a recycling site as well as adjacent activities.
For Gold Institute Member Heidelberg Materials Australia (HMA), the aim is to complement its existing footprint in the core market of Australia. This acquisition will further expand the company’s high quality product offering in Australia’s eastern states.
Maas’ construction materials business operates along the eastern seaboard across NSW, Queensland and Victoria and employs over 1000 workers. Established in 2002, Maas Group Holdings grew from a bobcat and a tipper truck to having 2000 staff and 19 companies while specialising in construction materials, civil construction and hire, manufacturing and equipment sales, and resident and commercial real estate.
HMA Chief Executive Phil Schacht said Maas’ strong reputation and regional expertise would benefit HMA which is looking forward to continuing to deliver reliable sustainable materials to its customers in the east.
The transaction between HMA and Maas is conditional based on regulatory approvals from the ACCC and the Foreign Investment Review Board (FIRB), along with other customary conditions, including Maas shareholder approval.
Image credit: Maas Group Holdings.
About the author
Desi Corbett
Desi is the Editor of Concrete in Australia, at the helm since December 2013, and our weekly news writer since 2016. Focused on concrete and construction for more than 11 years, her expertise in this field forms part of a journalism career spanning three decades. To get in touch please email desi@corbettcomms.com