Hanson says trading on track as takeover nears

Hanson says trading on track as takeover nears
Published: 25 June 2007

Hanson Plc said on Monday that trading ahead of its agreed takeover was in line with its expectations, adding that it expected to see continued weakness in the United States.

Hanson, the world’s largest supplier of sand and gravel for buildings, recently agreed an 8 billion pound ($15.94bn) takeover by German cement maker HeidelbergCement AG.

It said that trading for the first half of 2007 remained in line with its expectations while it predicted continued weakness in the US residential market and adverse foreign exchange to impact the second half of the year.

Hanson added that trading in its other divisions remained robust.