Much Binder (Pty) Limited was formed by Murray Stewart and Clifford Harris and established its first asphalt premix supply plant at Tableview Quarry. After successfully bidding for contracts such as a major Cape Town City Council tender, it expanded its operations with the establishment of a plant at Peak Quarry in Eerste River.
In 1973 Much secured a long-term supply agreement with the Port Elizabeth City Council. Lucrative and prestigious contracts were secured over the next 10 years and in 1983 the company developed the first wet blend method bitumen rubber asphalt for trials on the N2 freeway.
This culminated in the landmark decision to overlay an existing concrete section of the N2 with bitumen rubber asphalt in 1985.
The company disposed of its transport division to Unitrans to focus on its asphalt operations. In 1994 it established a plant in Zambia and successfully completed the Lusaka Southern Freeway.
The consortium includes Mineworkers Investment Company (MIC) and senior executives of Much Asphalt. More than 25% of the investment is black-owned, making this a significant empowerment transaction.