Maas – 50% acquisition of COLAS’ Caloundra asphalt plant and 100% of COLAS’ Tomago asphalt plant

Maas Group Holdings Limited (Maas) proposes to acquire, through its subsidiary Asphalt Operators Australia Pty Ltd (AOA), a 50% interest in Coltek Asphalt Pty Ltd (Coltek), which will own and operate the hot-mix asphalt business currently owned and operated by a subsidiary of COLAS Australia Group Pty Ltd (COLAS) at Caloundra on the Sunshine Coast, QLD. The remaining 50% interest in Coltek will be retained by COLAS Australia, and Coltek will operate the hot-mix asphalt business at Caloundra as an incorporated joint venture between Maas and COLAS Australia (the Acquisition).

Maas also proposes to acquire, through its subsidiary Austek Roads NSW Pty Ltd (Austek) (which forms part of the AOA business), the hot-mix asphalt business currently owned and operated by a subsidiary of COLAS Australia at Tomago, NSW (Newcastle).

Maas (ASX:MGH) is a diversified industrial group with operations in construction materials, civil construction and hire, manufacturing and equipment sales, and residential and commercial real estate. Under the Austek brand the AOA business produces asphalt and supplies roadlaying services (such as asphalt paving, asphalt repairs and spray seal services).

COLAS Australia supplies asphalt, road maintenance and preservation services, quarrying and binder management services, dust management and quality control services, and research and development services. COLAS is a subsidiary of France-based COLAS SA.