Aggregate Industries

Last updated

Aggregate Industries UK Limited
Type Subsidiary
Industry Quarrying, construction, building materials
Founded1858
Headquarters Bardon Hill, Coalville, Leicestershire, UK
Key people
Dragan Maksimovic (CEO)
Products Aggregates
Road surfacing and contracting services
Garden and driveway landscaping
Masonry
Ready mixed concrete and screed
Roofing tiles
Staircases and flooring
Surface water solutions
Sustainable drainage systems
Walling products
Asphalt
Cement/cementitious materials
Commercial hard landscaping
Concrete blocks
Parent Holcim Group
Website www.aggregate.com

Aggregate Industries, a member of the Holcim Group, is a company based in the United Kingdom with headquarters at Bardon Hill, Coalville, Leicestershire. Aggregate Industries manufactures and supplies a range of heavy building materials, primarily aggregates such as stone, asphalt and concrete to the construction industry and other business sectors. Aggregate Industries also manufactures and imports cement, and provides a range of aggregate-associated goods and services, these include the manufacture of masonry and reconstructed stone items for construction industry and domestic applications, the manufacture of pre-cast concrete items, the supply of ready-mixed concrete, design and project management consulting, and resurfacing contracting services. [1]

Contents

Aggregate Industries operates more than 60 quarries in the UK and has several bases throughout mainland Europe and Scandinavia. Its clients operate in a range of services including construction, aviation, education, horticulture, road building, housing, power, energy and rail. [2]

History

The story of Aggregate Industries began with the Ellis family of Beaumont Leys, which is now part of Leicester. Active Quakers, the family was influential in the Midlands' first public railway, the Leicester and Swannington Railway, which was used to transport granite from local quarries. In time, John Ellis became the local MP and his descendant, Joseph Ellis II, entered into partnership with a Breedon Everard of Groby, initially as coal merchants, later extending their business interests to granite. [3]

In 1858, following the death of Joseph Ellis II, his sons James and Joseph joined with Breedon Everard to lease the Bardon quarries belonging to Robert Jacomb-Hood II of Bardon Hall. Those quarries, now known as Bardon Hills, remained active as the business expanded, and the nearby Bardon Hall became the company's headquarters. [4] Peter Tom joined the business in 1956 and, as Bardon Group, he steered it towards an initial public offering on the London Stock Exchange in 1988. [5]

Following the merger of Bardon Group and Camas (the former aggregates business of English China Clays) in 1997, [6] Peter Tom became chief executive of the merged business, named Aggregate Industries, which continued to grow rapidly by acquisition under his management. [7]

Massachusetts State Police searched the offices of Aggregate Industries, the largest concrete supplier for the underground portions of the Big Dig, in June 2005. They seized evidence that Aggregate delivered concrete that did not meet contract specifications. In March 2006 Massachusetts Attorney General Tom Reilly announced plans to sue project contractors and others because of poor work on the project. Over 200 complaints were filed by the state of Massachusetts as a result of leaks, cost overruns, quality concerns, and safety violations. In total, the state has sought approximately $100 million from the contractors ($1 for every $141 spent). [8] In May 2006, six employees of the company were arrested and charged with conspiracy to defraud the United States. In July 2007, Aggregate Industries settled the case with an agreement to pay $50 million. $42 million of the settlement went to civil cases and $8 million was paid in criminal fines. The company will provide $75 million in insurance for maintenance as well as pay $500,000 toward routine checks on areas suspected to contain substandard concrete. [9]

In 2005 the company was acquired by the Swiss-based Holcim Group, which in 2014 was one of the largest cement companies in the world. [10]

Governance

Aggregate Industries' board is chaired by a representative from Holcim. Other members comprise the Chief Executive Officer, Chief Financial Officer/Deputy Chief Executive and a Non Executive Director. The board oversees performance and ensures that Aggregate Industries complies with the principles of good corporate governance. [11] Strategy formulation, operational management, performance monitoring and the evaluation of major capital projects fall within the remit of the UK Executive Committee. [12]

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References

  1. ↑ "Fitch Affirms Holcim at 'BBB'; Outlook Stable". Reuters. 5 February 2015. Retrieved 12 February 2015.
  2. ↑ "About Aggregate Industries". Official website. Retrieved 12 February 2015.
  3. ↑ "Herbert Ellis 1906-07". Leicester Literary and Philosophical Society. Retrieved 25 August 2023.
  4. ↑ "Our History". www.aggregate.com. Retrieved 13 February 2015.
  5. ↑ International Directory of Company Histories. St. James Press. 2000. p. 21. ISBN   978-1558624412.
  6. ↑ "Building Materials Camas, Bardon join forces". Herald Scotland. 15 April 1997. Retrieved 25 August 2023.
  7. ↑ "Tom retires as Aggregate chairman". Business Live. 30 October 2007. Retrieved 25 August 2023.
  8. ↑ "State weighs suing 'Big Dig' contractors". International Herald Tribune. 20 March 2006. Archived from the original on 18 July 2006. Retrieved 17 July 2006.
  9. ↑ "Concrete Supplier to Pay $50 Million to Settle Big Dig Case". Insurancejournal.com. 30 July 2007. Archived from the original on 8 April 2014. Retrieved 8 April 2014.
  10. ↑ "Holcim Agrees to Buy Aggregate Industries for $3.37 Billion". Bloomberg Businessweek . Retrieved 13 February 2015.
  11. ↑ "The board at Aggregate Industries". www.aggregate.com. Archived from the original on 11 February 2015. Retrieved 13 February 2015.
  12. ↑ "UK executive committee". www.aggregate.com. Retrieved 13 February 2015.
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