Positive outlook for Hanson

By THIS IS MONEY
Updated:

 

Building materials producer Hanson has said it sees positive prospects for the rest of the year and expects US operations to be its main engine of growth, it has emerged.

The firm has been on an acquisition spree in the last year and agreed to a £1.5bn recommended offer for Australian rival Pioneer International Ltd in November. The deal gives Hanson a stronger footing in the US building materials market through former Pioneer subsidiaries.

'The acquisition of Pioneer is a major step forward. The fit with this leading heavy building materials company is excellent. It increases our market positions in the USA and the UK. It advances our geographic diversification,' Hanson chairman Christopher Collins said at the firm's annual shareholders' meeting.

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