Cookstown Cement buys Lafarge Ireland in £55m deal

The deal includes a cement plant and quarry in Cookstown, a quarry in Dungannon and a facility at Belfast Harbour

A global building products group has sold its Northern Ireland cement business to a new local firm for more than £55m.

Cookstown-based Lafarge Cement Ireland has been acquired by Cookstown Cement Ltd.

The company has acquired all of the business of Lafarge from Aggregate Industries.

It is part of the Switzerland-based Holcim Group.

The deal includes a cement plant and limestone quarry in Cookstown, a shale quarry in Dungannon and a facility at Belfast Harbour.

The new owners have committed to invest £12m in the facilities to upgrade environmental capabilities and processes and improve efficiency.

Cookstown Cement has about 100 employees and its two shareholders are David Millar and the LCC Group.

'A new beginning'

Managing director David Millar, who is a former executive with Lafarge, described the acquisition as a fantastic opportunity.

"We have acquired a great company with a strong team and excellent products, and the investment we are making will allow us to expand further in the years to come.

"The staff were informed of the acquisition on Friday past and in the coming days I will be meeting the team and our customers and suppliers and telling them more about the investment in the business and processes we are going to make.

"While some change is inevitable and environmental improvements are essential, my aim is to very quickly create a solid foundation for the business to grow as the construction industry evolves.

"This is a new beginning for this Tyrone-headquartered business and I am very much looking forward to getting started."