Readymix board chairman to retire

Readymix chairman Martin Rafferty is to resign from the board with effect from December 31, 2004.

Mr Rafferty, who has been chairman since 1990, told the board that the acquisition by Cemex of Readymix's major shareholder, RMC, was an appropriate time to retire.

He will be succeeded by Adrian Auer. Mr Auer was appointed group finance director of RMC Group in January, 2003, and will be leaving the company when the takeover by Cemex is completed.