Construction Materials | News
Maas Group Holdings (MGH) has today announced that it has entered into a binding agreement to acquire Dandy Premix (Dandy), signaling growth for the Group and market confidence in its construction materials segment.
The acquisition will establish MGH in the Victorian market, which is benefiting from strong infrastructure spending and booming residential, commercial and industrial development.
Dandy’s concrete plants are strategically located in the growth-corridor of south-east Melbourne, servicing the suburbs of Dandenong, Cranbourne, Pakenham, Tyabb and surrounds. The plants supply large commercial, industrial, and residential building customers as well as major infrastructure projects including the $17.3 billion Level Crossing Removal Project.
“This acquisition represents a significant step in the strategic expansion of our construction materials business and will establish a new hub for MGH in Victoria,” said Wes Maas, Group Managing Director and CEO.
Dandy’s hard rock quarry at Yarra Valley and sand quarry at Grantville both supply Dandy’s concrete plants and other customers. Under a new permit, the production capacity at Grantville will increase and gain access to significant long-term reserves – making it an essential long-term supplier in the region.
“Dandy’s strong market position and trusted brand provide the ideal springboard for continued and sustained growth in the Victorian market. Despite unprecedented rainfall and other external influences impacting the construction materials segment over the last quarter, this acquisition should give our investors confidence in MGH’s long term outlook and sustained strategic growth pattern.”
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