Australian Construction Materials Names Appealing Amid Softened Global Growth Outlook
U.S.-China trade tensions, weakened consumer and business confidence in Europe, and tightening financial conditions in emerging markets led the IMF to downgrade their near-term global growth outlook. Australia is not immune to the slowdown and is now expected to post GDP growth of 2.1% in 2019, down from a prior 2.7%. We’d already anticipated softening volumes in 2019 for both narrow-moat Adelaide Brighton and no-moat Boral’s construction materials businesses. Nonetheless, we’ve trimmed our volu...Adelaide Brighton is an integrated construction materials and industrial lime producer which supplies a range of products into building, construction, infrastructure and mineral processing markets throughout Australia. Co.'s principal activities include the production, importation, distribution and marketing of clinker, cement, industrial lime, premixed concrete, construction aggregates and concrete products. In addition to domestic production, Co. is the importer of cement, clinker and slag into Australia.
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