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AUSTRALIA'S ADELAIDE BRIGHTON BUYS CONCRETE PRODUCTS BUSINESS.
SYDNEY, July 1 Asia Pulse - Adelaide Brighton Ltd (ASX:ABC) has acquired Queensland-based concrete products business Hanson Building Products Pty Ltd (HBP) for $A81.0 million ($US77.55 million).
The cash purchase and will enhance Adelaide Brighton's C&M Brick concrete products company and create a market leader in the local masonry market, it said.
The combined business will also hold the number one or number two market positions in all states of Australia except for Western Australia.
HBP and C&M Brick have minimal production overlap and there is potential for significant synergies, Adelaide Brighton said.
"In creating the largest masonry supplier in Australia we have formed a sound foundation for the combination of product and technical expertise, improved business efficiencies and increased procurement scale," Adelaide Brighton managing director Mark Chellew said in a statement.
The purchase ...
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