BUILDING MATERIALS INDUSTRY – AUSTRALIA

Time to buy, says James Hardie

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Original article by Cameron England
The Australian – Page: 15 & 23 : 25-Mar-25

Australian-listed building materials group James Hardie Industries has defended its move to acquire US-based Azec, which makes outdoor living products such as decking and siding. James Hardie CEO Aaron Erter says the two companies’ products are complementary, and the $US8.75bn ($13.93bn) deal is expected to generate annual synergies of around $US350m. Erter has also downplayed concerns about pursuing the deal amid the current political and macroeconomic uncertainty, contending that they will be well-placed to benefit when the market recovers.

CORPORATES
JAMES HARDIE INDUSTRIES PLC – ASX JHX, THE AZEC COMPANY INCORPORATED

$4.3b takeover ends 62 years of CSR on ASX

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Original article by Simon Evans
The Australian Financial Review – Page: 14 : 14-Jun-24

CSR shareholders have approved its $4.3 billion takeover by France-based Saint-Gobain, with their endorsement coming two days after the bid was approved by the Foreign Investment Review Board. The takeover gives Saint-Gobain ownership of brands such as Monier roof tiles, Gyprock plasterboard and Hebel building blocks. Some investors were unhappy about that the low price that Saint-Gobain was paying to secure control of CSR, but chairman John Gillam says the offer price of $9 per share was in the top third of the valuation range in an independent expert’s report.

CORPORATES
CSR LIMITED – ASX CSR, SAINT-GOBAIN, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD

Saint-Gobain wins over CSR board in $4.3b takeover

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Original article by Simon Evans
The Australian Financial Review – Page: 19 : 27-Feb-24

French firm Saint-Gobain has said in a statement that the board of CSR has unanimously recommended that shareholders of the building products firm accept its $4.3 billion takeover bid, with the two firms having signed a scheme implementation deed. CSR chairman John Gillam said that the two companies had been in discussions since early January, when CSR had rejected a lower bid by Saint-Gobain. Saint-Gobain stated that it expected to achieve $60 million in synergies by the third year of its ownership of CSR, of which $50 million would come from the cost side.

CORPORATES
CSR LIMITED – ASX CSR, SAINT-GOBAIN

Seven closes in on control of Boral

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Original article by Nick Evans
The Australian – Page: 13 & 16 : 9-Jul-21

Seven Group’s stake in Boral has risen to 40.95 per cent after the takeover target repurchased an additional $131m worth of its own shares on 8 July. Boral has now bought some $772.2m of its issued shares since launching a buyback program in April. The building materials group paid an average of $7.402 apiece for its latest tranche of shares, which is in line with Seven’s offer of $7.40 per share. An independent expert’s report has valued Boral’s shares at between $8.25 and $9.13. Seven’s takeover bid is scheduled to close on 15 July.

CORPORATES
BORAL LIMITED – ASX BLD, SEVEN GROUP HOLDINGS LIMITED – ASX SVW

New Seven bid too low, Boral tells investors

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Original article by Perry Williams
The Australian – Page: 15 : 2-Jul-21

Seven Group Holdings has increased its takeover bid for Boral to $7.30 per share after lifting its stake in the building materials group to the previously flagged threshold of 29.5 per cent. Seven had initially offered $6.50 per share, and its offer will rise to $7.40 if it gains 34.5 per cent of Boral by 7 July. Boral has described the revised offer as ‘ opportunistic’ and notes that an independent expert’s report has valued its shares at between $8.25 and $9.13.

CORPORATES
SEVEN GROUP HOLDINGS LIMITED – ASX SVW, BORAL LIMITED – ASX BLD

Bring back watchdog: Boral

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Original article by Andrew White
The Australian – Page: 21 : 25-Aug-16

Listed building materials group Boral has posted a 2015-16 net profit of $A256m, which is in line with its previous result. Its after-tax profit rose by nine per cent to $A268m when significant items totalling $A12m are excluded. Meanwhile, CEO Mike Kane has called for bipartisan support for legislation to reinstate the Australian Building & Construction Commission. He has also rejected calls for the creation of an anti-corruption agency that has broader scope than the construction industry.

CORPORATES
BORAL LIMITED – ASX BLD, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CSR LIMITED – ASX CSR

Boral shifts focus to new infrastructure

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Original article by Tim Binsted
The Australian Financial Review – Page: 19 : 11-Feb-16

Building materials group Boral has posted a 2015-16 interim net profit of $A136.6m, which is 31 per cent higher than previously. EBIT rose by 19 per cent to $A200m, but revenue was four per cent per cent lower at $A2.2bn. The group’s construction materials division has reported half-year EBIT of $A159m, an increase of six per cent, while its US arm posted EBIT of $A8m. Shareholders will receive an interim dividend of $A0.11 per share.

CORPORATES
BORAL LIMITED – ASX BLD, RBC CAPITAL MARKETS, CSR LIMITED – ASX CSR, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, PERPETUAL LIMITED – ASX PPT

James Hardie guns for US as profit slips

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Original article by Tim Binsted
The Australian Financial Review – Page: 24 : 20-Nov-15

James Hardie Industries has reported $US65.3 million ($A92 million) in adjusted profit for the second quarter of 2015-16. The Australian-listed building products supplier stated on 19 November 2015 that its full-year profit will be lower than previously forecast. The company now expects adjusted profit for 2015-16 to be between $US230 million and $US250 million.

CORPORATES
JAMES HARDIE INDUSTRIES PLC – ASX JHX

Hardie cash splash ignores compo deal

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Original article by Tim Binsted
The Australian Financial Review – Page: 15 : 22-May-15

James Hardie Industries has posted a $US221.4m profit for the year to 31 March 2015, which is 12 per cent higher than previously. The building materials group will pay out a total of $US120.3m in dividends for the second half of the financial year, plus a special dividend of $US98m. Payments to the Asbestos Injuries Compensation Fund for fiscal 2015 totalled $US113m. James Hardie shares closed 11.6 per cent higher at $A16.99 on 21 May 2015.

CORPORATES
JAMES HARDIE INDUSTRIES PLC – ASX JHX, ASBESTOS INJURIES COMPENSATION FUND LIMITED, NEW SOUTH WALES. THE TREASURY

Boral launches $236m program to buy back shares

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Original article by Tim Binsted
The Australian Financial Review – Page: 21 : 19-Mar-15

Australian-listed building materials group Boral has revealed plans for an on-market share buyback. The group aims to repurchase about five per cent of its shares over the next year, which could cost up to $A236m. Boral boasted cash holding of $A357m at the end of 2014, and Andrew Peros of Credit Suisse says the buyback will place the group in a strong financial position to pursue acquisitions

CORPORATES
BORAL LIMITED – ASX BLD, CREDIT SUISSE (AUSTRALIA) LIMITED, RIO TINTO LIMITED – ASX RIO, FAIRFAX MEDIA LIMITED – ASX FXJ, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, ORICA LIMITED – ASX ORI, AMCOR LIMITED – ASX AMC, USG CORPORATION, TRANSPACIFIC INDUSTRIES GROUP LIMITED – ASX TPI