Rinker buys Florida premix company

Rinker buys Florida premix company
Published: 16 June 2004

Rinker Group Ltd announced that its US subsidiary Rinker Materials Corporation has expanded into the fast growing Florida Panhandle region with the acquisition of RMC Group plc’s premix concrete business, comprising seven concrete plants and a small building products distribution operation.

The acquisition is a bolt on to Rinker’s Florida operations but is an expansion in to the northwest of the state where Rinker has not previously had an operating presence except for three gypsum wallboard distribution yards.

The RMC Florida Panhandle acquisition is the 32nd by the Rinker group since 1998 at a total cost of around $US1.7bn ($A2.5bn). It is expected to be earning above its cost of capital within the first full year.