The investment has been funded in cash from the Group's own resources.
The quarry will provide Breedon with an interest in approximately 3.4 million tonnes of strategically important high 'polished stone value' (PSV) aggregates. Sources of high (+68) PSV aggregates are very scarce and Tan-y-Foel has some of the highest quality reserves in the country. High PSV stone has a high skid resistance and is therefore in great demand for surfacing roads with heavy traffic flows. H V Bowen also operates a ready-mixed concrete plant.
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The business will continue to trade as H V Bowen and will be jointly managed by Breedon Aggregates England Limited and the Bowen family, who have owned and operated the quarry for more than 70 years.
(CD/JP)
