Adelaide Brighton acquisitions & contract renewal

Company News

Adelaide Brighton Limited (ASX:ABC) has announced downstream acquisitions in South Australia & Queensland and the renewal of a long term cement supply deal. 

The construction materials and lime producing group has bought two integrated aggregates and premixed concrete businesses. 

Adelaide Brighton says together with the recent Penrice Quarry acquisition these represent a total investment by the company of $174 million. 

CEO Martin Brydon says the acquisitions significantly strengthen the company’s position in South Australia's market and offer an important staging post for cement distribution in north Queensland. 

Adelaide Brighton believes the purchases are consistent with its strategy of developing strong downstream positions in vertically integrated construction materials markets. 

Adelaide Brighton reported a net profit of $151 million in the full 2013 calendar year. 

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?