The addition of Severn Sands, a family run marine dredging business operating in the Bristol Channel area, enhances our operational capability, secures scarce mineral reserves and resources, and ensures our downstream operations in the Gloucestershire and South Wales region are fully vertically integrated. Generating annual revenue of c.£9m, Severn Sands possesses valuable long-term extraction licences in the Bristol channel and will be immediately accretive to earnings.