Fulton Hogan is pleased to announce that it has signed an agreement to purchase Stevenson Construction Materials business.
The purchase will see Fulton Hogan take full ownership of Stevenson’s quarries and concrete plants, transport, laboratory services and associated plant and equipment.
Cos Bruyn, Fulton Hogan’s Group CEO said that both companies had similar family values and the purchase would complement the company’s vertical supply chain. It would also provide the company with a long-term supply of quality aggregates to help meet the growing needs of the Auckland and Waikato regions.
“We look forward to welcoming Stevenson’s 200+ strong workforce to the Fulton Hogan family once the purchase is completed. We thank the Stevenson family for their trust in Fulton Hogan to continue their legacy, and are pleased to retain the Stevenson brand.”
The sale is expected to conclude by 31 July 2018 and includes Stevenson’s Drury and Huntly quarries, four concrete plants (Penrose, East Tamaki, Takanini and the soon to be commissioned Drury), transport and laboratory businesses.