Construction News

03/09/2007

Readymix Sells Off Part Of Business

Irish precast concrete products company Readymix, has sold part of its business to a construction materials manufacturer.

It is understood Acheson and Glover bought it for €49 million in cash.

Readymix has said it had a business turnover of €55.8 million and earnings before interest, tax, depreciation and amortisation of €7.4 million.

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The company also reported net assets worth €38 million, including net trade debtors and creditors of €5 million at June 2007.

Readymix, in a statement, said the disposal provides an “excellent” development platform from which to invest in their core businesses.

(JM/SP)

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