Rinker

I was delighted to find a section from one of my favorite books, "Flight of Passage" by Rinker Buck, who with his brother flew across the U.S. in 1966 in a tube-and-fabric Piper Cub that they had restored by themselves.

Americans In the Air Daniel Ford 2011

Cemex officials still believe the Rinker acquisition was worthwhile, despite the pain it has inflicted, Mr. Al-Haffar said.

Cemex Shares, Bonds Rise After Darkest of Days Amy Guthrie 2011

The aggregates quarries alone that came with Rinker would be difficult to establish from scratch given heightened environmental awareness and restrictions.

Cemex Shares, Bonds Rise After Darkest of Days Amy Guthrie 2011

Cemex's debt woes stem from its credit-fueled purchase of Rinker Group Ltd. in 2007, after which its net debt more than tripled to $18.9 billion from $5.81 billion in 2006.

Cemex Shares, Bonds Rise After Darkest of Days Amy Guthrie 2011

The financial crisis of 2008-09 turned Rinker's concentration of assets in the U.S. into a liability, and Cemex was forced to refinance $15 billion of bank debt to avoid a default.

Cemex Shares, Bonds Rise After Darkest of Days Amy Guthrie 2011

The company's annual Ebitda has shrunk 50% since Rinker came on board, to $2.30 billion in 2010 versus $4.59 billion in 2007, including the effects of asset sales and other downsizing measures.

Cemex Shares, Bonds Rise After Darkest of Days Amy Guthrie 2011

-Mexico's Cemex has become one of the world's largest cement producers through its aggressive acquisitions strategy that reached its peak in 2007 when it paid $14.2 billion for the Rinker Group from Australia.

'Multilatinas' Gain Prominence 2010

Analysts said the market had been expecting a breakup of the company since 2003, when CSR spun off its Rinker heavy construction products unit, which was taken over in 2007 by Mexico's Cemex SAB.

Australia's CSR To Split Sugar, 2009

Cemex is feeling repercussions from a slew of acquisitions, including the $15.3 billion purchase in 2007 of Australia's Rinker, which boosted the Mexican company's debt levels.

Cemex's Bond-Sale Plans Encounter Doubts in Market Claudia Assis 2009

In April, Chief Executive Lorenzo Zambrano, commenting on the ill-timed Rinker purchase, said the crisis wouldn't deter Cemex from again pursuing growth through acquisitions in the future.

Cemex Gains Bank Accord on Debt Restructuring 2009