Ennstone upbeat on prospects in UK but warns of tough times in depressed US housing market
Ennstone has acquired Norwich-based May Gurney Surfacing for £475,000.
The purchase of the surfacing contractor by English subsidiary Ennstone Johnston is part of the group’s strategy to integrate its aggregates further down the supply chain.
In a trading statement the group said that it expected a challenging second half of the financial year and warned of tough trading in the US because of the lowest level of housing starts in six years.
The group said that UK businesses were performing well with prices remaining strong.
Chairman Vaughan McLeod said: “The group has continued to progress with the UK businesses performing well, bolstered by our strategy to integrate the Group's own aggregates into downstream products. The acquisition of Berwyn and May Gurney Surfacing has continued this momentum.”