Cement News tagged under: Wagners
Wagners reports steep drop in profits for 202031 August 2020, Published under Cement NewsWagners, the Australian construction materials business, reported a lower after-tax pro-forma profit of AUD3.92m (US$2.9m) for its 2020 annual results, down from the AUD13.7m in the prior year. Company CEO, Cameron Coleman, said the cement pricing dispute with competitor Boral, now resolved, and the loss of major infrastructure projects negatively impacted the company over the past 12 months. “The key message that I’m trying to communicate to investors is (the result was because of) redu... |
Boral wins Wagners supply case04 June 2020, Published under Cement NewsWagners will make less money from selling cement to Boral, its biggest customer, in future after a court ruled the Queensland construction group must match lower prices of rivals. Justice Bond at the Queensland Supreme Court found that the notice sent by Boral to Wagners that it could buy cement cheaper from Cement Australia was "a valid and effcitive notice." After Boral bought the Queensland group's construction materials business in 2011, it signed a "take or pay" that required it to k... |
Wagners' annual net profit drops by 49%19 August 2019, Published under Cement NewsWagners in Australia has seen its annual net profit drop by 48.5 per cent to US$12.8m. The construction group blames its dispute with Boral for the poor business results. The building materials group has reported a 32 per cent fall in earnings from its core construction, materials and services business to AUD30.1m (US$20.38m) after its decision to stop selling cement to Boral. About 40 per cent of Wagners' earnings were generated form its arrangement with Boral until Boral claimed it could ... |
Wagners suspends cement supply to Boral19 March 2019, Published under Cement NewsWagners Holding Co Ltd has suspended the supply of cement to Boral Ltd for six months after Boral had issued a third-party pricing notice to Wagners under their cement supply agreement. Boral has seen that it can obtain cement supplies cheaper than the price Wagners is offering. Boral's market price is in the form of an unsigned offer and Wagner's believe it may not be genuine. Wagners has commenced a formal process to disrupt the validity of the action, says Proactive Investors. Wagners... |
Wagners' share price rises 25% on first day11 December 2017, Published under Cement NewsWagners had a successful opening day on the Australian Securities Exchange with shares rising by 25 per cent, according to SBS News. The new listing now has a market value of AUD549m (US$412m). Wagners is the largest independent cement manufacturer and supplier in southeast Queensland, with approximately one third of the market. The company has 450 domestic and international customers. |
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