Saint-Gobain has completed its acquisition of CSR Ltd (CSR), establishing a strong presence in the Australian construction market. CSR is a leading player in building materials in Australia, consisting principally of building products with AUD1.9bn (US$1.28bn) in sales and an EBITDA margin of around 18 per cent for the fiscal year ending 31 March 2024, with some of Australia’s most trusted and iconic brands. According to Saint-Gobain, the acquisition fits extremely well with the company’s worldwide offer on light and sustainable construction.
Benoit Bazin, chairman and chief executive officer of Saint-Gobain, commented, “We are delighted with the timely completion of this major transaction in Australia’s attractive high-growth construction market which is underpinned by solid macroeconomic fundamentals. The acquisition will strengthen our presence in the fast-growing Asia-Pacific markets and is fully aligned with our “Grow & Impact” strategy and our worldwide leadership in light and sustainable construction. We see a tremendous opportunity to build on CSR’s strengths to further accelerate its growth in the region. I am very impressed by the CSR teams’ expertise, know-how, and commitment at every level. It is truly a great pleasure to officially welcome them all into Saint-Gobain.”
Following the delisting of CSR on completion of the transaction, Julie Coates has decided to step away from her role as managing director and chief executive officer. She will continue to serve as a member of the newly established CSR board to ensure a smooth and successful transition. Saint-Gobain is pleased to announce that Paul Dalton, currently CSR executive general manager, Interior Systems, will be appointed chief executive officer at the time of delisting.
