Plans to join certain parts of the businesses of Lagan Cement and Quinn Building Products have been abandoned.

Statements from the two companies today say discussions have concluded and both companies have decided not to progress further with the proposed joint venture.

In December when the talks were announced Quinn Manufacturing Group chief executive Paul O’Brien and Jude Lagan said that the idea was to create a “sustainable” independent Irish cement producer.

However, the scale of both operations meant that any deal would have to be referred to the Competition Authority.