Sigmaroc forges £150m alliance to turn its waste into ‘sustainable limestone’
London-listed raw materials group Sigmaroc said it has “forged an alliance” worth more than £100m with quarrying specialist Duo Group to produce sustainable limestone.
The ten year agreement between the two companies will see Exeter-headquartered Duo Group establish state-of-the-art processing plants at up to seven SigmaRoc limestone quarries to reprocess quarry tip waste into a “premium construction material”.
On top of generating an estimated £150m in revenue over the decade SigmaRoc said it would “significantly reduce” its environmental impact and extend the operational life of its quarries.
Duo Group managing director Martin McWilliams said:”We are delighted to enter into this agreement with SigmaRoc.
“SigmaRoc has become a major player in recent years in the UK and Northern Europe. They have a clear roadmap on their growth journey and their ambition to reach 100% utilisation of all production materials.
“We are excited to be part of this journey. We share equal values in sustainability and innovation, and together, we can achieve significant milestones together by reducing the environmental footprint of the aggregates industry and helping to meet the sector’s ESG targets.”
Michael Roddy, managing director of the North West region at SigmaRoc, said:”We are delighted to partner with Duo Group on this project. This partnership marks another significant step forward in our commitment to sustainability.”
Charles Trigg, chief technical officer at SigmaRoc, added:”This is exciting news for the group, proving both our ability to drive increased value as well as bringing us closer to achieving our goal of 100 per cent utilisation of all production materials.”
In April sigmaroc announced a deal with Dublin-based CRH in November, which will see it take over the firm’s operations in Germany, Czech Republic and Ireland.
As part of the deal, CRH also granted Sigmaroc the option to acquire further businesses in Poland and the UK, for £217m. The firm completed the UK acquisition in March.