Acquisition
19 12월 2001 - 4:44PM
UK Regulatory
RNS Number:9253O
CSR Ld
19 December 2001
RINKER ACQUIRES FIVE QUARRIES FROM CEMEX
CSR Limited subsidiary Rinker Materials Corporation ("Rinker") has signed an
agreement to make its first "bolt on" acquisition to the American Limestone
Corporation ("ALC") operations it acquired last year, with the US$42 million
plus working capital purchase of five hard rock quarries in Kentucky and
Missouri, from Cemex, Inc. Closing on the purchase is expected by end December.
The quarries are in regional areas of Kentucky and Missouri, and hold strong
positions in the local markets. Average reserve life exceeds 30 years, total
annual production is 3.2 million tons and sales revenue is around US$19 million
per annum. The four Kentucky quarries are located in Bowling Green, Hartford and
Bardstown. The Missouri quarry is located in Columbia.
The Kentucky quarries are in the centre of the state and are expected to benefit
from the Department of Transport's 1999-2004 road transport spending program,
comprising 1300 projects and totalling US$4.6 billion.
The quarries will be integrated into the ALC operations, and various functions
will be shared across the operations. The Kentucky quarry markets are contiguous
with ALC markets, and there are a number of common customers.
"This bolt-on acquisition is in line with Rinker's intention to extend the ALC
operations, and provides a good level of high quality reserves and strong
positions in several regional markets, particularly in Kentucky," said CSR
managing director Peter Kirby.
The acquisition is expected to be shareholder value positive after the first
full year.
The CSR Group is the world's ninth largest heavy building materials group, with
sales revenue of around A$6 billion, operating cash flow of over A$1 billion and
around 15,000 employees and over 600 sites across the US, Australia, New Zealand
and Asia.
For further information, please contact Debra Stirling, tel 0419 476 546 or
61 2 9235 8040
19 December 2001
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