ABC - Adbri Limited

[finicky]

Excerpt from AFR

" .. The buyout proposal from CRH, which has a secondary listing on the London Stock Exchange, values Adbri’s equity at $2.1 billion. CRH aims to delist Adbri from the ASX.

CRH chief executive Albert Manifold said the Australian construction materials industry was attractive.

“We have held a long-term interest in the Australian construction materials market, which has attractive attributes including stable market dynamics and positive growth prospects, similar in nature to the southern United States and central and Eastern Europe where we have a significant presence,” Mr Manifold said in a statement.

He said Adbri had quality assets and a leading market position.

“It is the next logical step for CRH to expand our existing presence in Australia, where we have been operating for 15 years,” Mr Manifold said. CRH has 400 employees in Australia and employs 76,000 people around the world.

Adbri is expecting its underlying EBITDA in calendar 2023 to be between $310 million and $315 million, with the offer price of $3.20 a share representing an enterprise multiple of nine times.

CRH became a big player in its home country of Ireland in 1970 when two listed building materials companies, Cement Ltd and Roadstone Ltd merged. It expanded overseas and now operates in 29 countries and is a big player in both Europe and North America ..."

 

[divs4ever]

Alcoa supply contract update

Adbri Limited (Adbri or the Company) (ASX:ABC) and Alcoa of Australia Limited (Alcoa) have agreed to amend the Company’s quicklime supply agreement to cater for changing demand.

Under the new arrangement Cockburn Cement Limited (Cockburn Cement) will supply Alcoa on revised terms until the end of April 2024. The previous arrangement was due to expire at the end of October 2024.
As a result of this revision, Adbri expects lower lime volumes in 2024 and beyond.
As outlined in the Company’s FY23 Investor Presentation1, Adbri is reviewing its lime operations with consideration to the evolving lime outlook and the changing demand profile from customers.
Notwithstanding lower lime volumes, Adbri currently expects demand for the balance of its products to remain strong and broadly in line with FY23, with pricing and cost discipline to support margin expansion in FY24.
Adbri’s Chief Executive Officer Mark Irwin said: “The Western Australian lime market is important to Adbri, and we are taking steps to ensure we are aligned with the needs of our customers.
An ongoing lime operations review has identified a number of opportunities for Cockburn Cement.
This includes the potential to adopt a hybrid supply model, which may involve a mix of locally manufactured product and imported lime, enabling us to deliver additional product grades to the marketplace.
We will investigate the feasibility of this model within the footprint of our Munster facility, utilising existing infrastructure such as silo and storage facilities, while continuing to leverage the site’s valuable rail access.” -

ENDS

Authorised for release by the Board.

i hold ABC

basically irrelevant considering there is a take-over deal on the table

 

[JohnDe]

Another Aussie company takeover -

Irish giant CRH will take control of cement maker Adbri after shareholders gave the green light on Wednesday to a $2.1 billion takeover bid that will result in the company disappearing from the ASX after 62 years.​

Irish giant CRH’s $2.1b bid wins over Adbri

The independent directors of cement maker Adbri have agreed to the $3.20-per-share offer from NY-listed Irish group CRH.

www.afr.com

 

[divs4ever]

Another Aussie company takeover -

Irish giant CRH will take control of cement maker Adbri after shareholders gave the green light on Wednesday to a $2.1 billion takeover bid that will result in the company disappearing from the ASX after 62 years.​

Irish giant CRH’s $2.1b bid wins over Adbri

The independent directors of cement maker Adbri have agreed to the $3.20-per-share offer from NY-listed Irish group CRH.

www.afr.com

i took the money and left early ( after the take-over offer was detailed )
just keeps on getting harder and harder to make sensible investments in Australian industry

but i bet the 'big guys ' will whine and whine about folks like me directing their investment dollars into places like India and Indonesia

although i bailed on ABC i still hold CSR

 

[finicky]

Sucks, but I made a few bucks stag profit. Was hoping to have it as a keeper income stock with modest capital gain potential.

 

[divs4ever]

Sucks, but I made a few bucks stag profit. Was hoping to have it as a keeper income stock with modest capital gain potential.

so was i , but fate had different plans

 

[System]

On July 2nd, 2024, Adbri Limited (ABC) was removed from the ASX's Official List in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement under which CRH ANZ Pty Ltd acquired all of the issued shares in ABC not owned by Barro Group Pty Ltd and its associates.