Statement re British Aggregates Association
Anglo American PLC
Tarmac PLC
17 February 2000
JOINT ANNOUNCEMENT BY AA PLC AND TARMAC PLC
Anglo American plc ('Anglo American') and Tarmac plc ('Tarmac') announce today
that the statement issued by the British Aggregates Association ('BAA') as
reported on Reuters on February 16 was misleading and contained a number of
factual errors. In the statement, the BAA claimed that the divestment package
as outlined by the OFT on February 8 and agreed to by Anglo American, was a
'cynical ploy' and 'that most of the plants offered for sale would have been
closed as a result of the merger.'
Anglo American and Tarmac wish to place on record that these claims are
without any foundation whatsoever. Anglo American has agreed to sell
aggregates and asphalt assets to cut the combined group's market share to 33%
or below in all production areas within a 30 mile radius of an Anglo American
or Tarmac quarry. The majority of the assets under consideration are long-
life, significant operations and which would not have been closed as a result
of the merger.
In a joint statement, Robbie Robertson CEO of Anglo Industrial Minerals and
Roy Harrison, CEO of Tarmac said: 'The plants will be acquired by existing
competitors as going concerns. To date we have had many approaches which
confirms the substantial interest in the available assets.'
NOTE TO EDITORS:
Anglo American and Tarmac are members of the Quarry Products Association in
the UK, which represents the majority of the aggregates industry in the UK.
The British Aggregates Association represents a small proportion of the
aggregates industry.
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