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Adelaide Brighton Limited (ASX:ABC) says it is planning for significant investment in the cement and lime business over the next two years.

The cement and lime manufacturer says the investment will enable it to expand production capacity and improve operational and environmental performance.

The company has confirmed it expects the carbon tax will cost about $5 million after tax in its first year of implementation, but believes the carbon tax is unlikely to materially impact its long term growth strategy.

Adelaide Brighton also announced the retirement of its chairman Chris Harris yesterday following the conclusion of the company’s annual general meeting.

 

Adelaide Brighton posted a net profit of $148.4 million in the 2011 financial year.