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[June 2001]
Boral Acquires Concrite
Boral Ltd (NSW, Australia) has acquired the independent concrete company in Sydney, Concrite Pty Ltd, for a price of approximately A$70 million. This price includes cash of A$20 million in the business. The acquisition is subject to clearance by the Australian Consumer and Competition Commission.
Concrite operates six metropolitan concrete plants strategically located on growth corridors around Sydney and six plants in the Southern Highlands and Wollongong. The business produced over 550,000 cubic metres of concrete during the fiscal year 2000. The Concrite plants complement Boral's existing plant coverage of the Sydney concrete market and most are located close to aggregate and cement supply from Boral's low cost quarries and cement facilities.
ENDS