Australia’s Rinker may seek to buy Texas Industries’ construction unit

Australia’s Rinker may seek to buy Texas Industries’ construction unit
Published: 25 July 2005

Rinker Corp Ltd may seek to buy Texas Industries Inc’s construction materials business when the US group splits its construction materials and steel-making operations on Friday, The Sydney Morning Herald reported, without citing sources.  
 
It said Rinker Corp has made no secret of its desire to make a big US acquisition and has cited Texas and California as two states where it wants to expand its US operations.  
 
TXI is the largest cement producer in Texas and a big player in California as well as having operations in Oklahoma, Arkansas and Louisiana.  
 
The newspaper said Goldman Sachs JBWere wrote in a research report that the TXI assets would be "a good strategic fit" for Rinker but does not consider TXI as a takeover target.