How Mr Peabody made millions from fly ash


Repeated the coup in Qld: He would later sell out to CSR, making
his first fortune, before doing a similar deal in Queensland, where in
1986 he floated Pozzolanic Industries. Only a little more than a year
later, Pozzolanic was taken over by Queensland Cement and Lime, after
Peabody sold his remaining 50 per cent for $20 million – before paying
$4.62 million to buy back the non-Queensland fly ash businesses,
including the group’s then small liquid waste disposal business and its
US ash operations.

Trucking interests led to NZ wine: Peabody also retained the
Australasian distributorship for Western Star trucks, which had become
the core of the Pozzolanic transport fleet. The relationship with
Western Star was to make him another fortune and indirectly lead the
family into a somewhat posher business than waste management –
up-market wine making in New Zealand.

The Courier Mail, 5/4/2006, p. 42

Source: Erisk Net 

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