BUILDING MATERIALS INDUSTRY – AUSTRALIA

Boycott safeguards ‘inadequate’: Boral

roymorgansocial Leave a comment

Original article by Annabel Hepworth
The Australian – Page: 21 : 26-Nov-14

The draft report of Ian Harper from his review of competition law for the Australian Government does not recommend changes to secondary boycott provisions. These had been called for in the submission of building materials group Boral, which also told the Royal Commission into Trade Union Governance & Corruption that the current legislation was insufficient to deal with the Construction, Forestry, Mining & Energy Union. The latter is now the target of Federal Court proceedings launched by the Australian Competition & Consumer Commission

CORPORATES
BORAL LIMITED – ASX BLD, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION

Lot release ‘too slow in NSW’

roymorgansocial Leave a comment

Original article by Tim Binsted
The Australian Financial Review – Page: 18 : 26-Nov-14

Brickworks MD Lindsay Partridge believes that the limited supply of land for residential development is contributing to the rising cost of homes in New South Wales. He has urged the State Government to accelerate the release of new housing lots, arguing that it should be making 10 times more lots available than at present. Meanwhile, Brickworks achieved 14 per cent growth in revenue year-on-year in the first quarter of 2014-15

CORPORATES
BRICKWORKS LIMITED – ASX BKW, CIMB SECURITIES INTERNATIONAL (AUSTRALIA) PTY LTD

Investors cheer as Boral ‘turns corner’

roymorgansocial Leave a comment

Original article by Bridget Carter
The Australian – Page: 18 : 28-Aug-14

Building materials group Boral has announced a 2013-14 full-year net profit increase of 181% to $A173m, although revenue declined 2% to reach $A5.2bn. The net result excluding abnormals was up 64% at $A171m. The 12-month distribution has been lifted 36% to $A0.15, and on 27 August 2014 the stock closed $A0.25 higher at $A5.63. CEO Mike Kane said the Australian-listed company was seeing a recovery in the housing market domestically as well as in the US

CORPORATES
BORAL LIMITED – ASX BLD, CSR LIMITED – ASX CSR

Soul Patts chief blasts attacks on company’s board

roymorgansocial Leave a comment

Original article by Andrew White
The Australian – Page: 21 : 22-Jul-14

The Australian Taxation Office has issued a private ruling that states a capital gains tax charge of $A311m would be created by an unwinding of the cross-shareholdings of Brickworks and Washington H Soul Pattinson. Brickworks has 42.7% of Soul Patts and the listed investment company 44.3% of the building materials group. Soul Patts chair Robert Millner has criticised fund management firm Perpetual and activist shareholder Mark Carnegie for pursuing the split plan, noting that it has caused costs of several millions of dollars

CORPORATES
WASHINGTON H SOUL PATTINSON AND COMPANY LIMITED – ASX SOL, BRICKWORKS LIMITED – ASX BKW, PERPETUAL LIMITED – ASX PPT, TPG TELECOM LIMITED – ASX TPM, NEW HOPE CORPORATION LIMITED – ASX NHC, BKI INVESTMENT COMPANY LIMITED – ASX BKI, MILTON CORPORATION LIMITED – ASX MLT, AMP LIMITED – ASX AMP, QBE INSURANCE GROUP LIMITED – ASX QBE, BRAMBLES LIMITED – ASX BXB, TRANSURBAN GROUP LIMITED – ASX TCL, MH CARNEGIE AND COMPANY PTY LTD, AUSTRALIAN TAXATION OFFICE

‘Blackmail’ worked, says Boral

roymorgansocial Leave a comment

Original article by Lucille Keen
The Australian Financial Review – Page: 1 & 8 : 10-Jul-14

Concrete supplier Boral has accused the Construction, Forestry, Mining & Energy Union of blackmail. On 9 July 2014, Boral CEO Mike Kane told the Royal Commission Into Trade Union Governance & Corruption that the union threatened contractors and created a cartel on Melbourne building sites. He said that the criminal conspiracy was effective, with Boral’s profits falling by nearly $A6 million since the boycott was launched. Kane said that he expects the inquiry to refer his allegations to Victoria Police

CORPORATES
BORAL LIMITED – ASX BLD, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, VICTORIA POLICE, GROCON PTY LTD, SUPREME COURT OF VICTORIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. FAIR WORK COMMISSION, TRANSPORT WORKERS’ UNION