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ALEX FRASER ON THE MARKET

Date: 12-May-2017

On April 26, 2017 John Swire & Sons Pty Ltd (Swire) announced its decision to place Alex Fraser on the market.

Swire Chairman Geoffrey Cundle said he expected Alex Fraser to attract strong interest from astute investors.

“Alex Fraser is a high quality business; the last three years have been three of its most productive and profitable. It is well-managed, with an excellent safety culture, strong sustainability credentials and excellent long-term growth prospects.

“Having recently conducted a global review, Swire has determined Alex Fraser does not fit its core strategic objectives.  The business is very well positioned and now is a good time for a new owner to capitalise on the significant growth in the industry,” Mr Cundle said.

Founded in 1879, Alex Fraser was owned by its namesake until the 1920s, followed by the McKellar family for more than 80 years. Swire first acquired an interest in 2006 and has since made significant investments into the business.  Alex Fraser is well-known for innovation and operational discipline in their industry.

Managing Director Peter Murphy said Alex Fraser has grown substantially in the last decade, under Swire’s ownership.

“Alex Fraser operates a network of world-class facilities and has an excellent reputation with construction contractors for meeting demanding project timelines and supplying high quality product.  Our network of sites is perfectly positioned to service growth corridors and infrastructure projects.  As infrastructure work rapidly increases, and quarry resources are depleted, demand for our products is stronger than ever.                                                                       

“We have a very strong team of skilled people.  I’m confident the transition to new ownership will be smooth, and all operations continue to grow. 

“There’s a bright future ahead for Alex Fraser. We look forward to working with our valued customers well into the future,” Mr Murphy said.

ABOUT:

Established in 1879, Alex Fraser is Australia's leading provider of recycled construction materials and asphalt. With a network of sites across Melbourne and Brisbane, Alex Fraser recycles millions of tonnes of construction materials every year.

Powered by a staunch commitment to reduce the environmental impact of development and the sustainable use of natural resources; Alex Fraser processes material that was previously landfilled including concrete, asphalt brick and glass.  High quality materials are produced to meet tight specifications for use in use in major infrastructure works including roads, bridges, airports, pipelines and ports.

The use of Alex Fraser materials in new infrastructure benefits the community and the environment in four significant ways; reduction of landfill, reduction of carbon emissions, reduction of truck traffic, and the reduction of quarrying for precious natural resources.

For more information about Alex Fraser visit www.alexfraser.com.au and www.greenroads.com.au

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