Hanson acquires US company Material Service from General Dynamics

Hanson has completed its acquisition of Material Service, worth $300m, from General Dynamics Corporation.

Hanson's chief executive, Alan Murray said: "Since becoming a focused heavy building materials group in 1997, we have invested around $2.5bn on over 50 bolt-on acquisitions in North America. Material Service is the largest of these US dollar transactions and reinforces our position as one of the leading aggregates producers in the US."

The agreement to purchase Material Service, the thirteenth largest producer of aggregates in the US, was originally announced on March 2.