Nov 27 2002
Australia will form its largest cement group through a merger between Australian Cement Holdings (a 50-50 joint venture ofCSR Limitedand Hanson PLC) andQueensland Cement.
The new group will be owned 50% by Holcim and 25% each by Hanson and CSR.
The cement giant will produce cement from three main Australian plants at Gladstone in Queensland, Kandos in NSW and Railton in Tasmania. The Gladstone plant is currently owned by Queensland Cement, while the other two are curtrently owned by Australian Cement Holdings.
Estimated output for the group is in excess of 3 million tones of cement per annum with a turnover of approximately $750 million.
The merger will make the new, yet unnamed company, more competitive on the international market through more efficient utilization of capital. They will also be able to better serve local markets and customers under the new management scheme.
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