Aluminium losses hit CSR ahead of Saint-Gobain $4.3b buyout
CSR’s aluminium operations have tumbled to an annual loss of $29 million because of high energy costs, posing a problem for French giant Saint-Gobain, which is poised to become CSR’s new owner in a $4.3 billion buyout.
CSR has a 25 per cent stake in the Tomago aluminium smelter in NSW, which has been a serious drag on the overall results for the building products company for decades as it battled volatility in aluminium prices and soaring electricity costs.
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