Displaying items by tag: MIck George

UK: The purchase of Mick George (MG) by Hanson Quarry Products Europe (Hanson), could result in less choice and higher prices for building contractors in parts of England, according to a Phase 1 Investigation by the Competition and Markets Authority (CMA). It has provisionally found that the proposed purchase of MG by Hanson raises competition concerns in certain markets for building materials in East of England and the East Midlands. Hanson is wholly owned by Heidelberg Materials.

The investigation concerns the supply of ready-mix concrete and aggregates. Colin Raftery, CMA Senior Director for Mergers said "These products are an important input for building projects, so a loss of competition between two of the main suppliers could result in increased construction costs for businesses and public bodies. In many areas where both businesses are active, sufficient competition will remain. But in some local markets, where there are not enough strong alternatives to the merging business, the deal could limit customer choice.”

Hanson and MG now have five working days to address the CMA's concerns. If they are unable to do so, the merger will be referred for an in-depth Phase 2 investigation.