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| Rinker acquires quarries and mines in North Queensland Australian heavy building materials company Rinker Group today announced the acquisition of three hard rock quarries and two sand mines in the fast-growing region of Mackay, in north Queensland. The acquisition was made by Rinker's Australian subsidiary, trading as Readymix. It is a small bolt-on to the existing Readymix operations in the area, which comprise concrete plants in Mackay, Nebo and Sarina. The vendors are John and Pat Croyden, trading as JT & PA Croyden Pty Ltd. Croyden has been a major supplier of aggregates and sand to Readymix for several years. Not all of the operations are currently producing material. The Mackay region is one of the fastest-growing areas in Queensland, and is experiencing strong economic growth, driven by demand for coal and other exports. Mackay is expected to benefit from significant growth in residential and infrastructure development over the next 20 years. Croyden acquisition enables Readymix to integrate backwards into aggregates and sand following the purchase of Edwards Concrete in 2003, which included the Sarina and Nebo concrete plants. The acquisition is expected to earn above its cost of capital within the first year. write your comments about the article :: © 2007 Construction News :: home page |