Marshalls sells four quarries

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PAVING slabs specialist Marshalls today agreed to sell four quarries, including one in Yorkshire, in a deal worth up to £19m with Breedon Aggregates.

The sites include the Clearwell limestone quarry in the Forest of Dean, which supplies the construction industry as well as the DIY market, including materials for walls and gravel for drives.

The others are sand and gravel quarries at Dunsville, near Hatfield, South Yorkshire, Astley Moss in Greater Manchester and Mold in North Wales.

Breedon is paying an initial £17.5m for the sites, which will add 13 million tonnes of mineral reserves to its portfolio.

Following the deal, which is subject to shareholder approval, Breedon will have 37 quarries and hold 400 million tonnes of mineral reserves.

Huddersfield-based Marshalls said it has been a niche player in the aggregates market for a number of years and that the operations were ancillary to its core operations. It will use proceeds from the sale to reduce debt.

The company slumped into the red in 2012 after a rain-soaked year that saw the group axe hundreds of staff and shut one of its plants.