History
Rinker Group was established as a separate entity in 2003 through its demerger from CSR Limited. CSR had earlier purchased Rinker Materials, which was founded by Marshall "Doc" Rinker and A.V. Hansen in 1926. The company has approximately 14,000 employees and as of 2004 has sales of around 3,700 million USD and a market capitalisation of about 5 billion USD. Its net profit was 492 million USD in the 2003-04 financial year.
In the Companies Target Statement over Cemex's takeover bid they showed the groups result from 98 (they were at this time owned by Commonwealth Sugar Refineries). They revealed that the compound average growth rate for EBITDA is 24.8 while sales grew at 14.3% average compound. Taking these figures it's evident that in nine fiscal years their EBITDA margin has doubled from 14% to 28%. This means on average over the last 9 years 32.9% of any amount that sales grows by (14.3%) will result in 32.9% sales growth is directly translated into EBITDA.
Rinker Group was acquired by CEMEX, the world's third largest cement producer, through its subsidiary CEMEX Australia Pty Ltd. in a $14.2 billion USD takeover bid. As of June 2007 CEMEX owned a 67.3% stake in Rinker Group. The current Chief Executive Officer is David Clarke, who had long worked in CSR's heavy building products division and resides in Florida. The current chairman of the board of directors is Hector Medina, executive vice-president of CEMEX. The other board members are nominees from CEMEX too. The company's corporate headquarters are in Chatswood, a Sydney suburb.
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