Some of the manufacturing businesses were spun off as US Industries in February 1995. In January 1996, Hanson ended its time as a diversified conglomerate by breaking itself up into four separate listed companies: Hanson plc, Imperial Tobacco, The Energy Group and Millennium Chemicals. This cost the group £95 million in professional fees by August 1996. Lord Hanson stepped down as chairman in December 1997. Led by Andrew Dougal, chief executive from 1997 until 2002, Hanson focused on building materials, becoming the world's biggest aggregates supplier and the second largest supplier of ready-mixed concrete. In November 1999, Hanson acquired Australian building materials business Pioneer International. Dougal quit the group in early 2002 to "rebalance" his life, leaving with a controversially large pay-off (variously reported at between £400,000 and £660,000, plus a pension top-up of £636,700). In May 2007, HeidelbergCement announced its intent to purchase Hanson PLC for £11 per share, a deal worth approximately £8 billion. This deal made the combined company the second largest cement and building materials company in the world. The transaction was completed through Heidelberg subsidiary Lehigh UK on 22 August 2007. In December 2014, Heidelberg Cement agreed to sell its Hanson Building Products division to the private equity firm Lone Star for £900 million. Operations Hanson UK's principal markets are the major conurbations in England and Wales and the central belt of Scotland. The company supplies heavy building materials such as ready-mixed concrete, asphalt and cement to the UK construction industry. References External links Building materials companies of the United Kingdom Brick manufacturers Conglomerate companies of the United Kingdom Manufacturing companies based in London British companies established in 1964 Manufacturing companies established in 1964 1964 establishments in England Companies formerly listed on the London Stock Exchange British subsidiaries of foreign companies