Isle of Wight to benefit from Eurovia and Aggregate Industries joint venture
Eurovia and Aggregate Industries are pleased to announce the formation of a new joint venture company that will supply asphalt concrete pre-cast and aggregate materials on the Isle of Wight and service the Islands Highways PFI. The joint venture company will trade as Wight Building Materials Limited.
Aggregate Industries already trades on the Isle of Wight through a subsidiary Bardon Vectis which has been established on the Island for 30 years. Wight Building Materials will comprise virtually all of the existing Bardon Vectis holdings on the Isle of Wight including the existing asphalt plant at Blackwater Quarry St Georges Down.
An application to upgrade asphalt production at Blackwater Quarry was submitted in 2012 and approved in May 2013.
Eurovia Roadstone submitted an application for a modern low emission asphalt plant at Medina Wharf in 2012. Subject to the various additional measures being approved by the Isle of Wight Council at Blackwater Quarry to deliver high performance asphalt production for the Highways PFI and for asphalt aggregate recycling this will no longer be required.
As a supplier of asphalt and other related building materials Wight Building Materials will play a central supply role in the delivery of the roads maintenance and highways upgrade programmes run under the 25-year PFI contract.
Scott Wardrop Managing Director of Eurovia Group said: “We are very pleased to announce the formation of Wight Building Materials a full joint venture company between Eurovia and Aggregate Industries. Wight Building Materials will produce and supply building materials across the Island and with the addition of the Highways PFI it will make the business more sustainable for the employees and allow the shareholders to invest in new high performance asphalt production and asphalt recycling for the future.
Aggregate Industries Director of Aggregates and Cementitious Materials Philippe Frenay comments: We are delighted to have entered into a joint venture with Eurovia. Through Bardon Vectis Aggregate Industries has been working on the Isle of Wight for 30 years and our staff on the Island are pleased to have the opportunity to be part of this upgrade and improve the roads across the Isle of Wight.