Acquisition

RNS Number:9253O
CSR Ld
19 December 2001


RINKER ACQUIRES FIVE QUARRIES FROM CEMEX

CSR Limited subsidiary Rinker Materials Corporation ("Rinker") has signed an 
agreement to make its first "bolt on" acquisition to the American Limestone 
Corporation ("ALC") operations it acquired last year, with the US$42 million 
plus working capital purchase of five hard rock quarries in Kentucky and 
Missouri, from Cemex, Inc. Closing on the purchase is expected by end December.

The quarries are in regional areas of Kentucky and Missouri, and hold strong 
positions in the local markets. Average reserve life exceeds 30 years, total 
annual production is 3.2 million tons and sales revenue is around US$19 million 
per annum. The four Kentucky quarries are located in Bowling Green, Hartford and
Bardstown. The Missouri quarry is located in Columbia.

The Kentucky quarries are in the centre of the state and are expected to benefit
from the Department of Transport's 1999-2004 road transport spending program, 
comprising 1300 projects and totalling US$4.6 billion.

The quarries will be integrated into the ALC operations, and various functions 
will be shared across the operations. The Kentucky quarry markets are contiguous
with ALC markets, and there are a number of common customers.

"This bolt-on acquisition is in line with Rinker's intention to extend the ALC 
operations, and provides a good level of high quality reserves and strong 
positions in several regional markets, particularly in Kentucky," said CSR 
managing director Peter Kirby.

The acquisition is expected to be shareholder value positive after the first 
full year.

The CSR Group is the world's ninth largest heavy building materials group, with 
sales revenue of around A$6 billion, operating cash flow of over A$1 billion and
around 15,000 employees and over 600 sites across the US, Australia, New Zealand
and Asia.

For further information, please contact Debra Stirling, tel [phone] or 
61 2 9235 8040

19 December 2001 
C&IR 09/02