Further to our report at the end of July questioning whether rumours that Highways PFI contractor, Eurovia, were planning to buy-out local aggregates company Bardon Vectis, we have a surprising (or not) update.
Readers will remember that on 31st July a spokesperson for Eurovia told OnTheWight,
“I can confirm that Eurovia have no plans to buy-out Bardon Vectis or Aggregate Industries.”
Joint Venture going ahead
OnTheWight can reveal that Eurovia has been in discussions with Aggregate Industries, the parent company of Bardon Vectis, and a Joint Venture is taking place.
Staff at Bardon Vectis were briefed this morning on the Joint Venture and as we understand it, the planning application for the proposed asphalt plant at Medina Wharf, which has received huge opposition from residents, some councillors and even the MP for the Isle of Wight, has not yet been withdrawn.
Upon hearing the news, a spokesperson for campaigners against the asphalt plant in Medina Wharf, WRAP told OnTheWight,
“WRAP welcomes the announcement of a Joint Venture between Eurovia and Bardon Vectis.
“This is something we have been requesting for well over a year. We hope that the contentious planning application at Medina Wharf will be now withdrawn as soon as possible.”
Official release from Eurovia
Following publication of our report above, this in from Eurovia:
Eurovia and Aggregate Industries agree new joint venture company – Wight Building Materials Limited
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 Island’s 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 George’s 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.”
Image: Kheel Center under CC BY 2.0
