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Australia's Rinker to expand US business with new quarry in Nevada

Australia's Rinker to expand US business with new quarry in Nevada

Rinker Group, the Australian construction materials company subject to a US$14.25 (euro10.47 billion) takeover bid by Mexico's Cemex SA, announced Wednesday it will expand its U.S. business by building a new quarry in Nevada.
The new quarry operation in the Las Vegas area would lift the company's production of aggregate _ a variety of materials used in construction, such as sand and gravel _ in the region by 40 percent, the company said in a statement.
It will get raw material under a long-term agreement with Chemical Lime Company of Arizona, processing and marketing around 2 million tons a year.
The expansion follows the acquisition in January of the aggregates and concrete producer JR & Sons Ready Mix in the Las Vegas area.
"This new agreement will further strengthen our aggregates and downstream positions in one of the fastest-growing regions of the U.S.," Chief Executive David Clarke said.
Cemex's US$15.85 a share bid for Rinker closes May 18. Rinker generates 85 percent of its profit in the United States.


Updated : 2021-03-01 22:19 GMT+08:00