Rinker Group

Rinker Group was an Australian-headquartered building-products company that operated across Australia, the United States and, through selected subsidiaries, China. Its activities centered on materials used in construction infrastructure and property development, including ready-mixed concrete, quarried rock and sand, concrete pipe, culverts, rail-related concrete products, precast bridge components and other heavy construction supplies. The group was created in 2003 when CSR Limited separated its heavy building-products interests into a standalone company. Its corporate lineage also extended to Rinker Materials, a United States business founded in 1926 by Marshall “Doc” Rinker and A. V. Hansen. The resulting group combined Australian operations, principally organized around the Readymix and Humes businesses, with Rinker Materials Corporation in the United States. Readymix produced and delivered bulk concrete and aggregates and maintained operations in Australia as well as concrete-supply subsidiaries serving Chinese markets including Tianjin and Qingdao. Humes manufactured precast and concrete infrastructure products such as pipes, culverts, bridge components and rail-track materials. In the United States, Rinker Materials operated concrete and aggregate businesses in several states, particularly Florida and Arizona, and used the Florida Materials name for some activities while also maintaining a substantial retail distribution network. The United States became the group’s economic center of gravity. Before the CEMEX transaction, approximately 80 percent of Rinker’s revenue and profits were attributed to US operations. The company grew through its exposure to construction materials demand and through the combination of production, quarrying, delivery and retail distribution. It was a significant listed building-products business, with shares traded in both Australia and the United States before its takeover. CEMEX, the Mexican cement producer, pursued Rinker in a major takeover that valued the transaction at approximately US$14.2 billion. CEMEX Australia Pty Ltd became the acquisition vehicle, and by June 2007 CEMEX held 67.3 percent of Rinker Group. After the acquisition, CEMEX nominees occupied key board positions, including Hector Medina as chairman, while David Clarke served as chief executive officer. Rinker ceased to operate as an independent listed group following the takeover. In 2009, CEMEX sold its Australian operations to Holcim in a transaction valued at approximately AUD2 billion. The assets transferred included the Readymix and Humes businesses and CEMEX’s 25 percent interest in Cement Australia, but not the US-based Rinker Materials Corporation. The Australian operations subsequently operated under the Holcim Australia banner. In 2016, CEMEX sold the Rinker Materials pipe business to Quikrete. As a result of these transactions, the original Rinker Group no longer exists as an independent corporate group, although important Australian businesses and selected product operations continued under successor owners.

Rinker Group was established in 2003 through a demerger from CSR Limited. The transaction separated CSR’s heavy building-products activities into an independently listed company with operations in Australia and the United States. Its corporate history included Rinker Materials, a US building-materials business founded in 1926 by Marshall “Doc” Rinker and A. V. Hansen. The new group operated three principal divisions. Readymix supplied bulk ready-mixed concrete and quarried rock and sand, primarily for the Australian construction market, and also had subsidiaries supplying concrete in Chinese cities including Tianjin and Qingdao. Humes manufactured concrete infrastructure products, including pipe, culverts, rail-related materials and precast bridge components. Rinker Materials Corporation operated US concrete, aggregate and other heavy building-products businesses in states including Florida and Arizona. Some Florida operations used the Florida Materials name and included retail distribution of building materials. Rinker’s US operations were particularly important financially and accounted for about 80 percent of group revenue and profits according to the cited reference material. The company expanded its profile as a multinational construction-materials supplier and was listed on both the Australian Securities Exchange and the New York Stock Exchange before its acquisition. CEMEX pursued Rinker in a takeover valued at approximately US$14.2 billion. CEMEX Australia Pty Ltd acted as the acquisition vehicle, and by June 2007 CEMEX owned 67.3 percent of Rinker Group. David Clarke was chief executive officer, while Hector Medina, a CEMEX executive vice-president, became chairman. Other board members were also CEMEX nominees. The transaction ended Rinker’s existence as an independent listed group. In June 2009, CEMEX sold its Australian business to Holcim in a transaction valued at approximately AUD2 billion. The sale included the Readymix and Humes units and CEMEX’s 25 percent stake in Cement Australia, but excluded the US Rinker Materials Corporation. The Australian businesses subsequently operated under the Holcim Australia name. In 2016, CEMEX sold the Rinker Materials pipe business to Quikrete. These successive transactions dispersed the former group’s assets among successor owners, leaving Rinker Group defunct as an independent corporate entity.

• 2016

  Rinker Materials pipe business is sold

  [1]Rinker Groupen.wikipedia.org

  CEMEX sold the Rinker Materials pipe business to Quikrete.

• 2009

  Australian operations are sold to Holcim

  [1]Rinker Groupen.wikipedia.org

  Holcim acquired the Australian Readymix and Humes businesses and CEMEX’s stake in Cement Australia for approximately AUD2 billion.

• 2007

  CEMEX acquires control

  [1]Rinker Groupen.wikipedia.org

  CEMEX acquired Rinker through CEMEX Australia Pty Ltd in a takeover valued at approximately US$14.2 billion and held 67.3 percent by June.

• 2003

  Rinker Group is created through a CSR demerger

  [1]Rinker Groupen.wikipedia.org

  CSR Limited separated its heavy building-products interests into the independently listed Rinker Group.

• 1926

  Rinker Materials is founded

  [1]Rinker Groupen.wikipedia.org

  Marshall “Doc” Rinker and A. V. Hansen founded the business that later became part of the Rinker Group’s US operations.

A vertically integrated heavy building-materials supplier serving infrastructure, construction and property-development markets through concrete production, quarrying, precast manufacturing and distribution.

• Ready-mixed concrete and aggregates

  Readymix

  Readymix produced and delivered bulk ready-mixed concrete for construction and infrastructure projects. It also supplied quarried rock and sand and maintained Australian operations alongside subsidiaries that supplied concrete in Chinese markets, including Tianjin and Qingdao. The division formed one of the principal Australian operating platforms of the group.

• Precast and concrete infrastructure products

  Humes

  Humes manufactured concrete products for civil engineering and infrastructure applications. Its range included concrete pipe, culverts, rail-track materials and precast bridge components. The business was included in the 2009 sale of CEMEX’s Australian operations and continued as a major Australian supplier under Holcim ownership.

• US concrete, aggregates and heavy building materials · 1926

  Rinker Materials Corporation

  Rinker Materials Corporation produced concrete, aggregates and related heavy building materials in several US states, notably Florida and Arizona. Its Florida activities included operations under the Florida Materials name and a retail network serving customers purchasing building materials and related products. The US division generated most of the former group’s revenue and profits.

• 2016

  Divest the Rinker Materials pipe businessM&A

  Background

  CEMEX continued to reorganize and dispose of parts of the former Rinker portfolio.

  Action taken

  CEMEX sold the Rinker Materials pipe business to Quikrete.

  Aftermath

  The transaction further separated the former Rinker assets from their original corporate group.

  Source

• 2009

  Sell Australian operations to HolcimM&A

  Background

  CEMEX sold selected assets while retaining the US-based Rinker Materials Corporation.

  Action taken

  Holcim acquired Readymix, Humes and CEMEX’s 25 percent stake in Cement Australia.

  Aftermath

  The Australian businesses operated under the Holcim Australia banner, while the US Rinker Materials business remained outside the transaction.

  Transaction value. Approximately AUD2 billion (June 2009)

  Source

• 2007

  Accept CEMEX takeoverM&A

  Background

  CEMEX sought to acquire Rinker Group as part of its expansion in construction materials.

  Action taken

  CEMEX Australia Pty Ltd acquired Rinker Group in a takeover valued at approximately US$14.2 billion.

  Aftermath

  CEMEX obtained a 67.3 percent stake by June 2007, installed nominees on the board and ended Rinker’s independent listed-company status.

  Takeover value. Approximately US$14.2 billion (2007 takeover)

  Source

• 2003

  Separate the heavy building-products businesses from CSRStrategy

  Background

  CSR Limited separated its heavy building-products activities to create a standalone listed group with Australian and US operations.

  Action taken

  Rinker Group was established through a corporate demerger and operated independently of CSR.

  Aftermath

  The new group became a separately listed multinational building-materials company until its acquisition by CEMEX.

  Source

1. 1Rinker Groupen.wikipedia.org