Ennstone pays £7m for Mansfield Asphalt Plant

Ennstone, the quarry and construction materials group, has paid £7m for Mansfield Asphalt.

Mansfield manufactures and supplies 135,000t of asphalt in the east Midlands from a plant located close to the M1 motorway and within easy reach of Ennstone’s markets in Nottinghamshire, Lincolnshire and South Yorkshire.

Vaughan McLeod, chairman of Ennstone, commented: “The acquisition of Mansfield is another step forward following the development of Cloud Hill Quarry that has enabled us to be one of the lowest cost producers of single size aggregates while securing a route to market for these aggregates, via value-added products.”

The deal will be funded by £5m in cash and the issue of £2m-worth of new Ennstone shares.