NATURE OF A JOINT VENTURE On its website Cement Australia has a section titled ‘Associated companies’. Here it states that: To enable Cement Australia to offer a complete range of supplementary and associated products, we have a large number of specialised subsidiaries and associated companies that complement our core cement business. One of the examples given is that of Flyash Australia Pty Ltd. The website states: a leading supplier of high quality fly ash products, Flyash Australia Pty Ltd is a joint venture company, equally owned by Boral Limited and Cement Australia Pty Ltd. Flyash Australia’s core business involves the collection, processing, storage and distribution of quality fly ash products. With operations in NSW, SA and WA, the company distributes its products throughout Australia. Required The website uses the terms ‘associated companies’ yet uses examples of ‘joint ventures’. Explain the differences between associated companies and joint ventures. CASE STUDY