Boral acquires two Queensland concrete companies

Boral acquires two Queensland concrete companies
Published: 23 January 2004

Building products firm Boral, which is engaged in an A$840m takeover bid for cement and lime company Adelaide Brighton, has acquired two cement companies in Queensland. Boral said it paid A$12m for the two companies: Smith's Premix in Bundaberg and Smith's Longreach in Longreach. "These two bolt-on acquisitions further strengthen Boral's leading market position in construction materials in Queensland, positioning us well in a high growth market," Boral managing director Rod Pearse said. The acquisition of Smith's Bundaberg would give Boral entry into the concrete and quarry market in Queensland's Bundaberg/Wide Bay region and strengthen its overall position in the North Queensland regional markets, Boral said. Smith's Premix produces about 30,000m3 of concrete per annum and is the largest concrete operator in the Bundaberg region. The Longreach operation is the sole supplier of concrete and quarry products in Longreach and surrounding areas. Boral said the Longreach concrete business allowed Boral to expand into a new regional market in Queensland.