NewsBite

Simon Evans

Yesterday

James Hardie chairwoman Anne Lloyd, with CEO Aaron Erter. The anger from Australian fund managers over the proposed $14 billion buyout of Azek has not diminished.

Investor wants government review of James Hardie waiver on $14b Azek deal

Long-term James Hardie investors say the Azek deal is value destructive and were disappointed by discussions with the company’s chair Anne Lloyd on Monday.

President Donald Trump steps out of a red Model S Tesla vehicle on the South Lawn of the White House Tuesday, March 11, 2025, in Washington. (Pool via AP)

Six things to know before buying an EV

Prices are falling across the market, with Tesla models up to $20,000 cheaper than two years ago, and BYD making strong inroads.

Aaron Erter took the helm at James Hardie in late 2022. He says the integration of Azek will happen at a time of volatility in the US and then the enlarged company will be in a sweet spot to accelerate.

James Hardie chair to meet investors after backlash on Azek deal

The ASX waiver given to James Hardie for its $14 billion deal has hamstrung investors, who have stripped $5 billion but can’t block the unpopular transaction.

This Month

Donald Trump and Elon Musk speak to reporters as they sit in the Tesla Model S.

Tesla car sales in Australia plummet 53pc in March

A downturn in Tesla vehicle sales in Australia is mirroring the rest of the world, with the BYD brand making strong headway.

Kelsian is selling its K’gari assets as it looks to more defensive assets.

Captain Cook Cruises, SeaLink on the market in Kelsian review

The company is one of the country’s largest tourism and transport operators. It says it is considering selling some of its businesses to pay down debts.

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March

US President Donald Trump displays a signed automotive tariff executive order in the Oval Office.

Car parts makers plead for tariff exemption as Trump fuels trade war

Australia-made car parts worth $200 million in sales are in the firing line of Donald Trump’s trade war.

 Nyrstar Hobart.

Minerals chief warns against taxpayer bailout for struggling smelters

Andrew Michelmore, the former chief of ASX-listed zinc smelter Zinifex, said taxpayer funds paid out in bad times should be recouped in good times.

Former Australian Test cricket fast bowler Brett Lee became a co-owner of Sydney Beer Co in 2022.

Former cricketer Brett Lee’s beer company owes creditors $10m

Sydney Beer Co, co-owned by the former Australian fast bowler, owes the Tax Office $1.3 million after collapsing on March 11.

The Whyalla steelworks only had three days worth of coking coal - vital in the steelmaking process - when KordaMentha took over. It has spent $60 million on orders to build up a buffer.

Whyalla steelworks in $60m emergency spend to secure coal supply

The steelworks’ administrators have secured coking coal from BlueScope, China and Indonesia to keep making steel after it was left with only three days’ supply.

James Hardie’s fibre cement sheeting at a warehouse in Melbourne. The company is one of the largest buillding materials groups in the world.

US law firms threaten to sue over James Hardie and Azek’s merger plans

Three American law firms are threatening to sue the New York-listed group because the price is too low, while local analysts are worried the price is too high.

James Hardie’s fibre cement sheeting at a warehouse in Melbourne. The company is one of the largest buillding materials groups in the world.

James Hardie investors worried $14b Azek deal is overvalued

As the building material business’ stock price dived, chief executive Aaron Erter rejected concerns it had overpaid for outdoor products company AZEK.

Nick Dobromilsky (left) and Graeme Wilson (right) are King Island Dairy Co’s new owners.

Former investment banker relishes King Island Dairy rescue

Nick Dobromilsky, who grew up in Hobart, and business partner Graeme Wilson, are aiming to do better than a string of corporate giants at King Island Dairy.

Premier Investments chairman Solomon Lew in Melbourne.

Billionaire Solly Lew hunts for health, cosmetics retail acquisition

After merging its apparel business with Myer, Premier Investments is now seeking an acquisition in the cosmetics sector.

Lamborghini CEO Stephan Winkelmann says the Italian car maker made record sales in 2024 and is in a strong position, although uncertainy remains about the effect of US tariffs - with 3,000 Lamborghini’s sold in the US in 2024.

Lamborghini boss: Roar is at our core, and even EVs won’t sound fake

The Italian carmaker has an 18-month waiting list as sales and profits hit a record, with its engine roar here to stay as luxury Chinese EV rivals step up.

Home-building activity will remain weak until next year, says Brickworks CEO Mark Ellenor.

New home targets ‘not going to go close to being met’

The leader of Australia’s biggest brick-making group, Brickworks, says Australia still won’t have built enough new homes by 2029 to meet government targets.

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Whyalla steelworks halted, millions in capex urgently needed

“Because of the underinvestment, inadequate maintenance and servicing of critical infrastructure, the steelworks are in a state of disrepair,” says KordaMentha.

A worker with a pane of glass at a construction project in Sydney.  Oceania was the only local manufacturer of architectural glass.

Oceania Glass collapse brought on by failing machinery: administrator

The 169-year-old company was the country’s only manufacturer of architectural glass before its private equity owner, Crescent Capital, called in Grant Thornton last month.

Tesla owners, Kate Shannon and Matt Lymbury with their children Lola 13, and Beatrice 12.

‘We’re not embarrassed’: Tesla owners shrug off Musk stigma

There’s no need for a sticker saying ‘I Bought This Before Elon Went Crazy’ on a Tesla for these owners, who think the car is wonderful.

Janus Electric chief executive Ian Campbell.

David Paradice, Ashok Jacob back electric truck hopeful’s ASX run

Janus Electric, run by former Citi banker Ian Campbell, is raising $10 million and heading for the local sharemarket through a backdoor listing.

Former Australian cricketer Brett Lee, who played 76 Test matches for his country from 1999 to 2008, was a co-owner of Sydney Beer Co, which has been put into administration.

Cricketer Brett Lee’s Sydney Beer Co goes bust

The beer company part-owned by the former Test fast bowler has been put into administration amid tough times in brewing.

Original URL: https://www.afr.com/by/simon-evans-j7gbc