Australian Cement Holdings (ACH), a 50/50 joint venture between Hanson Australia and CSR, is to merge with Queensland Cement Limited (QCL), a wholly owned subsidiary of Holcim, forming the biggest cement manufacturer in Australia.
The merged business will be managed independently of CSR, Hanson and Holcim, but will draw on the technical expertise and resources of the parent companies.
The combined company will produce over 3 million tonnes of cement in three main plants: Gladstone, Kandos and Railton.
Hanson and CSR will each hold a 25% interest in the merged entity, with Holcim holding 50%.
The merger is expected to be completed in the first quarter of 2003, subject to final documentation and due diligence and to regulatory approval by the Australian Consumer and Competition Authority.