A 160-year year old construction firm has offloaded its concrete manufacturing arm for £20 million.

Laing O’Rourke, which has its headquarters in Dartford, has sold Bison to masonry manufacturer Forterra.

The company bought the Staffordshire concrete firm at the height of the global financial crisis in 2008, saving 450 jobs.

Chief executive Ray O’Rourke said the growth demand in the residential, commercial and infrastructure sectors made it a good time to sell.

He said: “This collaborative and future-focussed deal will provide enhanced value to Laing O’Rourke, Bison and Forterra.”

The terms of the sale includes an exclusive partnership where Laing O’Rourke will continue to use Bison’s building products on projects.

Bosses said there would be no impact on current trading as the deal goes through with Forterra, which recently listed on the London Stock Exchange.