Rinker Group
Encyclopedia
The Rinker Group was an Australia
n-headquartered multinational building products company. Prior to its acquisition by Cemex
, it was listed on both the Australian Securities Exchange
and the New York Stock Exchange
. Rinker operates three major divisions:
Rinker Group was established as a separate entity in 2003 through its demerger with CSR Limited
. CSR had earlier purchased Rinker Materials, which was founded by Marshall "Doc" Rinker and A.V. Hansen in 1926. The company has approximately 14,000 employees and as of 2004 has sales of around 3,700 million USD and a market capitalisation of about 5 billion USD. Its net profit was 492 million USD in the 2003-04 financial year.
In the Companies Target Statement over Cemex
's takeover bid they showed the groups result from 98 (they were at this time owned by Commonwealth Sugar Refineries). They revealed that the compound average growth rate for EBITDA is 24.8 while sales grew at 14.3% average compound. Taking these figures it's evident that in nine fiscal years their EBITDA margin has doubled from 14% to 28%. This means on average over the last 9 years 32.9% of any amount that sales grows by (14.3%) will result in 32.9% sales growth is directly translated into EBITDA.
Rinker Group was acquired by CEMEX, the world's third largest cement producer, through its subsidiary CEMEX Australia Pty Ltd. in a $14.2 billion USD takeover bid. As of June 2007 CEMEX owned a 67.3% stake in Rinker Group. The current Chief Executive Officer
is David Clarke
, who had long worked in CSR's heavy building products division and resides in Florida. The current chairman of the board of directors is Hector Medina, executive vice-president of CEMEX. The other board members are nominees from CEMEX too. The company's corporate headquarters are in Chatswood, a Sydney suburb.
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
n-headquartered multinational building products company. Prior to its acquisition by Cemex
Cemex
CEMEX is the world's largest building materials supplier and third largest cement producer. Founded in Mexico in 1906, the company is based in Monterrey, Mexico...
, it was listed on both the Australian Securities Exchange
Australian Securities Exchange
The Australian Securities Exchange was created by the merger of the Australian Stock Exchange and the Sydney Futures Exchange in July 2006. It is the primary stock exchange group in Australia....
and the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
. Rinker operates three major divisions:
- Readymix, which produces and delivers bulk concreteConcreteConcrete is a composite construction material, composed of cement and other cementitious materials such as fly ash and slag cement, aggregate , water and chemical admixtures.The word concrete comes from the Latin word...
and quarried rock and sand for the building industry for the Australian market. Readymix has established subsidiaries in China, supplying concrete for the cities of TianjinTianjin' is a metropolis in northern China and one of the five national central cities of the People's Republic of China. It is governed as a direct-controlled municipality, one of four such designations, and is, thus, under direct administration of the central government...
and QingdaoQingdao' also known in the West by its postal map spelling Tsingtao, is a major city with a population of over 8.715 million in eastern Shandong province, Eastern China. Its built up area, made of 7 urban districts plus Jimo city, is home to about 4,346,000 inhabitants in 2010.It borders Yantai to the...
. - Humes, which produces manufactured concrete products including pipePipe (material)A pipe is a tubular section or hollow cylinder, usually but not necessarily of circular cross-section, used mainly to convey substances which can flow — liquids and gases , slurries, powders, masses of small solids...
, rail track materials, precast concretePrecast concreteBy producing precast concrete in a controlled environment , the precast concrete is afforded the opportunity to properly cure and be closely monitored by plant employees. Utilizing a Precast Concrete system offers many potential advantages over site casting of concrete...
bridgeBridgeA bridge is a structure built to span physical obstacles such as a body of water, valley, or road, for the purpose of providing passage over the obstacle...
s, culvertCulvertA culvert is a device used to channel water. It may be used to allow water to pass underneath a road, railway, or embankment. Culverts can be made of many different materials; steel, polyvinyl chloride and concrete are the most common...
s and the like, for the Australian market. Rinker and Humes are generally the largest, or near-largest, in the Australian market in most of their product lines. - Rinker Materials Corporation of West Palm BeachWest Palm Beach, FloridaWest Palm Beach, is a city located on the Atlantic coast in southeastern Florida and is the most populous city in and county seat of Palm Beach County, the third most populous county in Florida with a 2010 population of 1,320,134. The city is also the oldest incorporated municipality in South Florida...
produces a number of concrete, aggregate and other heavy building products similar to the Australian product line in a number of US states, notably including FloridaFloridaFlorida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
and ArizonaArizonaArizona ; is a state located in the southwestern region of the United States. It is also part of the western United States and the mountain west. The capital and largest city is Phoenix...
. In Florida, for instance, it operates under the name "Florida Materials", and runs a substantial retail network for these materials and other building products. About 80% of Rinker's revenue and profits come from its US operations.
Rinker Group was established as a separate entity in 2003 through its demerger with CSR Limited
CSR Limited
CSR Limited is a major Australian industrial company, producing aluminium and building products. It is publicly traded on the Australian Securities Exchange. In 2009, it has approximately 10,000 employees and during a period of a major cyclical downturn the company made an after-tax profit of...
. CSR had earlier purchased Rinker Materials, which was founded by Marshall "Doc" Rinker and A.V. Hansen in 1926. The company has approximately 14,000 employees and as of 2004 has sales of around 3,700 million USD and a market capitalisation of about 5 billion USD. Its net profit was 492 million USD in the 2003-04 financial year.
In the Companies Target Statement over Cemex
Cemex
CEMEX is the world's largest building materials supplier and third largest cement producer. Founded in Mexico in 1906, the company is based in Monterrey, Mexico...
's takeover bid they showed the groups result from 98 (they were at this time owned by Commonwealth Sugar Refineries). They revealed that the compound average growth rate for EBITDA is 24.8 while sales grew at 14.3% average compound. Taking these figures it's evident that in nine fiscal years their EBITDA margin has doubled from 14% to 28%. This means on average over the last 9 years 32.9% of any amount that sales grows by (14.3%) will result in 32.9% sales growth is directly translated into EBITDA.
Rinker Group was acquired by CEMEX, the world's third largest cement producer, through its subsidiary CEMEX Australia Pty Ltd. in a $14.2 billion USD takeover bid. As of June 2007 CEMEX owned a 67.3% stake in Rinker Group. The current Chief Executive Officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
is David Clarke
David Clarke
-Entertainment:* David Clarke , motion picture and Broadway actor* Dave Clarke * Dave Clarke , techno DJ from England-Sport:* David Clarke , English footballer...
, who had long worked in CSR's heavy building products division and resides in Florida. The current chairman of the board of directors is Hector Medina, executive vice-president of CEMEX. The other board members are nominees from CEMEX too. The company's corporate headquarters are in Chatswood, a Sydney suburb.
External links
- Rinker group corporate website - primary source for this article
- CEMEX global website