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Wagners Holding Company Provides Boral Cement Supply Agreement Update

23 Apr 2019  |  17:53:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Boral Cement Supply Agreement Update

Wagners Holding Company updated that it elected to suspend the supply of cement products to Boral following the receipt of a notice from BLD purporting to be a Pricing Notice issued under the Cement Supply Agreement between the Company and BLD. As reported, the Company has filed a Statement of Claim in the Supreme Court of Qld against BLD seeking a determination through the Courts of the matters currently under dispute. The Company further advised that the FY19 guidance previously issued by it will be reduced by $10m until such time as the litigation has been either resolved or determined by the Courts. On this basis the Company expects EBIT earnings for the full year FY19 will be in the range of $25m to $28m.

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