CSRLimited today announces that it has agreed to acquire KarremanRoof Tiles, a privately-owned concrete roof tile business based in Brisbane for$12.5 million plus stock. Completion is expected in early February 2005. The Karreman facility will be operated in conjunction withCSR’s Monier© concrete roof tile plant located in Darra, Queensland.
CSRManaging Director Alec Brennan said, “this acquisitionenables CSR to expand its concrete roof tile operations in a high growthmarket. Karremanis a modern, low cost operation which was recently commissioned incorporatingstate of the art components.”
CSR’sMonier© and Wunderlich© businesses are the leading suppliers of roof tiles in Australiaand New Zealand with nine factories and 20 sales offices.