Saint-gobain COMPLETES THE
acquisition of CSR in australia
Saint-Gobain today announces that it
has completed the acquisition of
CSR Limited ("CSR"), establishing a strong presence in the
attractive Australian construction market.
CSR is a leading player in building
materials in Australia, consisting
principally of Building
Products (A$1.9bn in
sales and an EBITDA margin
of c.18% for the fiscal year ending March 31, 2024), with
some of Australia's most trusted
and iconic brands. The acquisition fits extremely well with
Saint-Gobain'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."
Management update
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. Julie 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.
Benoit Bazin stated:
"I
would like to take this opportunity to thank Julie for her
exceptional contribution and commitment to CSR and to congratulate
her for the impressive journey of CSR under her leadership both
strategically and in terms of financial results. Paul's appointment
as Chief Executive Officer, leading the existing highly-experienced
management team, bodes very well for the long-term success of the
business, and the continuity of culture, performance and
customer-focus as it enters this exciting new chapter. I commend
Julie and the CSR Board for having such a seamless succession plan
in place."
Julie Coates, CSR Chief
Executive Officer, commented:
"With the transaction now complete, I've made the
decision that the time is right for me to hand over the
privilege of leading this wonderful business. CSR shares
strong cultural and strategic alignment with
Saint-Gobain and will now benefit from the shared best
practice and resources of a global leader in our industry, notably
in terms of growth, innovation, operational excellence and
sustainability. I look forward to following
the successful journey in my continuing role on the newly
established CSR board."
Paul Dalton, CSR, Chief
Executive Officer elect, commented:
"It is a great honour to be asked to lead this
wonderful CSR team and organisation. Having already spent more than
30 years of my professional life in the construction industry, I
look forward to our continued strong profitable growth in the
building solutions market in Australia and New Zealand, under the
Saint-Gobain umbrella. I would like to
thank Julie Coates for her
incredible leadership. I'm thrilled by this deal with
Saint-Gobain and all the potential it will unleash and look
forward to working closely with the Saint-Gobain team as
we continue to innovate and deliver for our customers, our team,
and our business."
About Saint-Gobain
Worldwide leader in light and sustainable
construction, Saint-Gobain designs, manufactures and distributes
materials and services for the construction and industrial markets.
Its integrated solutions for the renovation of public and private
buildings, light construction and the decarbonization of
construction and industry are developed through a continuous
innovation process and provide sustainability and performance. The
Group's commitment is guided by its purpose, "MAKING THE WORLD A
BETTER HOME".
€47.9 billion in sales in
2023
160,000 employees, locations in 76
countries
Committed to achieving net zero carbon emissions by
2050
For more information about Saint-Gobain,
visit www.saint-gobain.com
and follow us on X @saintgobain
|
Analyst/investor
relations
|
Press
relations
|
|
Vivien
Dardel:
|
+33 1 88
54 29 77
|
Patricia
Marie:
|
+33 1 88
54 26 83
|
|
Floriana
Michalowska:
|
+33 1 88
54 19 09
|
Laure
Bencheikh:
|
+33 1 88
54 26 38
|
|
Alix
Sicaud:
|
+33 1 88
54 38 70
|
Yanice
Biyogo:
|
+33
1 88 54 27 96
|
|
James
Weston:
|
+33 1 88
54 01 24
|
Erica Borgelt (Aus):
|
+61
413 732 951
|