Saint-Gobain has announced the completion of its acquisition of CSR Limited, consolidating its strong presence in the attractive and fast-growing Australian construction market. Benoit Bazin, Chief Executive Officer of Saint-Gobain, expressed his delight at the completed transaction:
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"We are delighted to have completed this important transaction in the attractive Australian construction market, which is underpinned by solid macro-economic fundamentals. The acquisition strengthens our presence in the fast-growing Asia-Pacific markets and is in line with our 'Grow & Impact' strategy and our global leadership in 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 expertise, know-how and commitment of the CSR teams at all levels. It gives me great pleasure to officially welcome them all to Saint-Gobain."
Management update
Following the delisting of CSR Limited, Julie Coates has decided to step down from her role as Managing Director. However, she will remain as a member of the newly formed CSR Board to ensure a smooth and successful transition. Paul Dalton, currently CSR Executive General Manager, Interior Systems, will assume the role of Chief Executive Officer at the time of delisting.
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This acquisition marks a significant step for Saint-Gobain as it further strengthens its position in the Asia Pacific region and advances its sustainable construction strategy globally.
