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RMC Group

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RMC Group plc
Company typePublic limited company
IndustryConcrete
Founded1930
Defunct2005
FateAcquired
SuccessorCemex
HeadquartersEgham, Surrey, United Kingdom

RMC Group plc (formerly "Ready Mixed Concrete Limited") was a ready mixed concrete, quarrying and concrete products company headquartered in Egham, United Kingdom. It was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index, but was acquired by Cemex of Mexico in 2005.

History

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The Company was founded in 1930 by the Danish civil engineer Kjeld Ammentorp as Ready Mixed Concrete Limited in Bedfont.[1] In 1952, Ready Mixed Concrete of Australia reversed into its UK rival and began to expand.[1] During 1962, the company was listed for the first time on the London Stock Exchange.

During 1979, the company created Thorpe Park in Staines, Surrey, via the redevelopment of one of its disused quarries as a leisure park once quarrying activity had been completed.[2][3] Up until 1998, RMC Group operated Thorpe Park, at which point it was sold to The Tussauds Group, owner of Alton Towers and nearby Chessington World of Adventures.[4][1]

Throughout the early 1990s, RMC Group, akin to its numerous domestic competitors, pursued expansion within the European market.[5] In December 1990, it established a joint venture with Isle of Man Assurance to undertaken land purchases.[6] During September 1995, it was announced that RMC Group would take full control of its German subsidiary via a £356 million transaction to buy the outstanding 36.4 per cent stake.[7] One year later, the company entered into a unsuccessful bidding war for the Midlands-based aggregates firm Ennemix against the French industrial group Lafarge.[8][9]

In early 1996, despite a downturn in demand (which was partially attributed to a decrease in road-related work),[10] RMC Group successfully enacted a price rise.[11] Around this time, as a result of recently introduced legislation, RMC Group (along with other British-based aggregates firms) was compelled to diversity into waste management and recycling activities.[12] During 1997, the company reported strong financial results;[13][14] it also mooted plans to launch a new concrete operation in India.[15]

During August 1998, RMC Group sold its builders' merchant chain, Hall & Co, to the building materials firm Wolseley in exchange for £121 million.[16] The firm's fiscal performance continued to be negatively impacted by a downturn in the German market during the latter half of 1998.[17] During early 1999, RMC Group stated that it had held discussions towards the potential acquisition of Scancem AB,[18][19] although the German firm Heidelberg Materials ultimately emerged as the victor.[20]

In early 2000, the company completed the acquisition of one of its suppliers, the British cement producer Rugby Group, in exchange for £850 million.[1][21] This acquisition was stated to achieve £30 million in savings every year.[22] That same year, CEO Peter Young was replaced by Stuart Walker.[23]

During 2005, RMC Group was acquired by Cemex of Mexico for £2.3 billion; the transaction created the third largest cement producer in the world, behind Lafarge and Holcim.[24][25][26]

See also

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References

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  1. ^ a b c d "Ready mixed fortunes". The Daily Telegraph. 28 September 2004. Archived from the original on 27 March 2019.
  2. ^ "Thorpe Park History Timeline". memoriesofthorpepark.co.uk. Retrieved 27 October 2024.
  3. ^ "Park of lakes", Staines and District Chronicle, 25 May 1979, p. 21.
  4. ^ "England's Thorpe Park sold to Tussauds Group". allbusiness.com. Retrieved 24 February 2025.
  5. ^ "14Sep90 UK: BLUE CIRCLE, RUGBY GROUP, RMC AND STEETLEY ALL ANNOUNCE EUROPEAN JOINT VENTURES OR ACQUISITIONS". constructionnews.co.uk. 13 September 1990.
  6. ^ "21Dec90 UK: RMC GROUP AND ISLE OF MAN ASSURANCE SET UP VULTURE FUND FOR LAND PURCHASES". constructionnews.co.uk. 20 December 1990.
  7. ^ "RMC takes full control of German arm". constructionnews.co.uk. 14 September 1995.
  8. ^ "Ennemix bid battle: enter RMC". constructionnews.co.uk. 16 July 1996.
  9. ^ Yates, Andrew (28 November 1997). "UK authorities to look at Lafarge bid for Redland". The Independent.
  10. ^ "RMC and Camas hit by roads cutbacks". constructionnews.co.uk. 27 September 1996.
  11. ^ Fishlock, Bill (25 April 1996). "RMC prices hold firm despite falling demand". constructionnews.co.uk.
  12. ^ "Forecasters predict aggregates producers will face further constraints Landfill tax only the start, say economists". constructionnews.co.uk. 3 October 1996.
  13. ^ "Materials duo cement better returns in UK". constructionnews.co.uk. 25 September 1997.
  14. ^ Fishlock, Bill (16 April 1998). "Materials giant sees £33 million wiped from its profits by the strong pound RMC looks for growth as sterling saps profits". constructionnews.co.uk.
  15. ^ "RMC set to spice up sales in India". constructionnews.co.uk. 17 April 1997.
  16. ^ "Group now offers national coverage in heavyside market". constructionnews.co.uk. 3 September 1998.
  17. ^ "RMC pays the price as downturn in Germany takes toll on materials". constructionnews.co.uk. 14 January 1999.
  18. ^ Fishlock, Bill (8 April 1999). "Readymix giant may break with tradition and purchase European cement giant RMC considers buying cement maker Scancem". constructionnews.co.uk.
  19. ^ Guerrera, Francesco (25 February 1999). "RMC may enter pounds 1bn bid battle for Scancem". The Independent.
  20. ^ "The History of Heidelberg Materials" (PDF). heidelbergmaterials.com. 2023.
  21. ^ Treanor, Jill (8 November 1999). "RMC set to mix it with £850m bid for Rugby". The Guardian.
  22. ^ "RMC out to reap rewards of group growth strategy". constructionnews.co.uk. 23 March 2000.
  23. ^ Hyland, Anne (17 March 2000). "RMC chief quits on high note". The Guardian.
  24. ^ Macalister, Terry (28 September 2004). "Mexican firm buys RMC for £2.3bn". The Guardian.
  25. ^ Goodway, Nick; Condie, Bill (13 April 2012). "Cemex snaps up RMC for £2.3bn". Evening Standard.
  26. ^ "750 jobs go in RMC clearout". constructionnews.co.uk. 22 June 2005.
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