Rinker Group Limited (NYSE:RIN)
Industry: Industrial Goods
Rinker Group Limited (Rinker), incorporated on December 23, 1987, is a manufacturer and supplier of heavy building materials in the United States and Australia. Products include aggregate, cement, concrete, concrete block, asphalt and concrete pipe. In the United States, Rinker's subsidiary Rinker Materials Corporation (Rinker Materials) is a producer of heavy building materials. In Australia, Rinker's subsidiary Rinker Australia Pty Limited (Readymix) is a producer of aggregate, concrete, concrete pipe and other concrete products. Readymix also holds a substantial joint venture interest in an Australian cement manufacturer. In China, Readymix operates four concrete plants in the northern cities of Tianjin and Qingdao. The business segments for Rinker Materials are Aggregate; Cement; Concrete, concrete block and asphalt; Concrete pipe and products, and Other. Readymix is another segment. During the fiscal year ended March 31, 2006 (fiscal 2006), Readymix divested its non-core 50% joint venture interest in the Emoleum asphalt and road pavement maintenance business. Readymix has retained a long-term aggregate supply contract with the purchaser, a subsidiary of Downer EDI Limited. Aggregate Rinker Materials extracts aggregate, which is crushed and sized for delivery to customers, primarily for use in the production of concrete, roadbase and asphalt. Rinker Materials' principal operations are in Florida and Arizona. Rinker Materials has 89 quarries, sand and aggregate plant operations. Rinker Materials supplied about 101 million tons of aggregate in fiscal 2006. During fiscal 2006, Rinker Materials' estimated end markets for aggregate by trading revenue were about 40% residential and the balance equally divided between commercial and civil construction. Rinker Materials' aggregate operations are often integrated with Rinker Materials' downstream concrete and asphalt operations with over one-third of Rinker Materials' aggregate production supplied for use in Rinker Materials' manufacture of concrete, concrete block, asphalt and other products. The balance is supplied to other construction companies primarily for the production of concrete, asphalt and roadbase. The Company competes with Florida Rock Industries, Tarmac Limited (Titan Cement Company), Vulcan Materials Company, Martin Marietta Materials and Hanson Building Materials America. Cement Rinker Materials cement operations are in Florida. Rinker Materials supplies grey and white cement and a range of special products. Cement is produced through a highly capital intensive process with limestone as the major raw material. In fiscal 2006, Rinker Materials produced about 2.1 million tons of cement and imported 2.1 million tons of cement through two terminals. Rinker Materials supplies cement to its concrete businesses as well as to external pre-mix, masonry and pre-cast concrete producers and building supply companies. The Company competes with Cemex, Lehigh (Heidelberg), Titan Cement Company, and Florida Rock Industries. Concrete, concrete block and asphalt Rinker Materials produced about 17.8 million cubic yards of concrete, in fiscal 2006, from 172 concrete plants. In Florida, Rinker Materials' concrete operations are integrated with its cement and aggregate operations. In concrete block, Rinker Materials produced about 200 million units that was used for residential and commercial building during fiscal 2006. Rinker Materials also produces asphalt, which is used for roads, highways and airports with plants located in Arizona, northern California, Oregon and Washington State. Rinker Materials also manufactures and sells hot-mix asphalt products. These are a mixture of aggregate and asphalt oil made to the customer's specification in a batch plant. Rinker Materials produced about 4.3 million tons of asphalt in fiscal 2006. All asphalt operations are vertically integrated with Rinker Materials' aggregate businesses. The Company competes with Vulcan and Granite Construction. Concrete pipe and products Rinker Materials, through its Concr
As Of: 10/07 00:00 ET
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