Readymix is seeking to make "a significant acquisition" but only where it already operates because its parent company, RMC Group, is already established in most other markets.
The managing director, Mr John McNerney, said yesterday the company's balance sheet was virtually without debt but it would not acquire anything it believed was too expensive. The company says any acquisitions will most likely be in Northern Ireland, where the best value is. The rest of the company's business is in the Republic and the Isle of Man.
Mr McNerney said the company accepted that to enter the British market or continental European market did not make sense when RMC had already made strong investments there. He was speaking after the company's annual general meeting in Dublin.
He said one avenue of growth the company is exploring is involvement in private/public partnerships, which it has not done before. Roads were one area of interest to the company.
At the a.g.m. shareholders unanimously voted in favour of a recapitalisation of the company in the form of an increase in its authorised share capital from £6.5 million to £13 million by the creation of 65 million shares at 10p each.
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