Boral acquires two cement companies in Queensland

Boral acquires two cement companies in Queensland
Published: 18 December 2003

Building products firm Boral Ltd, which is engaged in an A$840 million (US$619.25 million) takeover bid for cement and lime company Adelaide Brighton, has acquired two readymix companies in Queensland. Boral said it paid A$12 million (US$8.85 million) 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 30,000 cubic metres 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.