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. Last Updated: 07/27/2016

Building Materials Site

LONDON -- British building materials firm Hanson PLC, reporting an 8 percent rise in half-year profit Thursday, has teamed up with three big rivals to form a new online marketplace for building materials.

Hanson, whose underlying half-year pre-tax profits were in line with market expectations at pounds 132 million ($200.2 million), will join British cement giant RMC Group as well as France's Lafarge and Germany's Heidelberger Zement in the new venture.

The marketplace is to be operational next year and serve as a hub for the $1 trillion global building materials market, trading bulk cement, aggregates, ready-mixed concrete and asphalt, RMC said in a separate statement.