Heidelberg Materials Australia to acquire the construction materials division of Maas Group for up to $1.703bn.

Heidelberg Materials Australia, a provider of high-quality construction materials, agreed to acquire the construction materials division of Maas Group, an Australian diversified industrial services and real estate company, for up to $1.703bn. "We are extremely proud of the Construction Materials business we have built over many years. The scale, quality and performance of CM are a testament to the hard work and commitment of our people, and it is reflected in the value being recognised by Heidelberg Materials. Heidelberg Materials is well-positioned to continue building on the CM business' strengths, leveraging its global expertise and track record in delivering major infrastructure projects, while providing continuity for the business and its people," Wes Maas, Maas Group CEO and Managing Director.