February
CSR land sale to fuel Sydney’s Aerotropolis dream
Up for grabs is one of the largest tracts left in the fast emerging precinct that will be home to Sydney’s new airport.
November 2024
One of the few remaining building groups on the ASX hits the gas
Maas Group was founded by former Rabbitohs player Wes Maas two decades ago. With three acquisitions in one day, it is turbocharging its expansion plans.
From one wheelbarrow and a ute to a $437m ASX listing
Symal Group founder Joe Bartolo started from humble beginnings in 2001 to build his construction group into a large enough player to float on the exchange this year.
October 2024
Irish giant CRH to buy CPE Capital-backed concrete infrastructure biz
Civilmart is the country’s No.2 manufacturer of concrete pipes and precast products, backed by John Haddock’s buyout firm CPE Capital.
August 2024
James Hardie battles weak demand in Australian reno market
Renovators are holding off on big projects because of high building costs and economic uncertainty, but the building products maker expects an improvement in 2025.
July 2024
CSR’s ‘extraordinary’ insulation price rise could be gouging
A major distributor of the building materials giant’s products wants the company to hand over internal documents as it attempts to show misused of market power.
How a global giant plans to get bang for its buck at CSR
One of the ASX’s oldest companies, CSR, went out with a bang; now the games start over. This is how Saint-Gobain plans to make it in Australia.
June 2024
$11b swoop on ASX building giants leaves James Hardie the lone prize
The CSR, Boral and Adbri buyouts come at a low point in the construction cycle, with better times expected from mid-2025 once interest rate cuts arrive.
CSR ends 62-year run on ASX as $4.3b takeover gets green light
But some shareholders say that the price paid by France’s Saint-Gobain was too low, with a lower Australian dollar giving overseas buyers more firepower.
Weak dollar plays a part in $2.1b buyout of Adbri by Irish giant CRH
One of Australia’s largest cement groups will disappear from the ASX after 62 years, with one shareholder saying it was a “sad but predictable day”.
French giant Saint-Gobain wins FIRB approval for CSR buyout
The $4.3 billion takeover bid for the maker of Gyprock plasterboard and Monier bricks will be voted on by shareholders on June 13.
May 2024
James Hardie in $3.5b wipeout on weaker housing outlook
The share price slumped 14.8 per cent, with CEO Aaron Erter expecting volumes to fall by about 5 per cent in Australia in what he calls a “very challenging” market.
CEOs to Labor: inflation still needs to be tamed
Measures to lift housing supply are being partly applauded, but a heavier push on curbing inflation seems to be missing in a two-speed economy.
Aluminium losses hit CSR ahead of Saint-Gobain $4.3b buyout
Shareholders will vote next month on the bid from Saint-Gobain, which must wrestle with a loss-making aluminium business hit hard by high energy costs.
March 2024
Locked out home buyers need two rate cuts to have a chance
The MD of Brickworks says 13 rate rises, bureaucratic red tape and a 30pc jump in building material costs since mid-2022 have put detached housing out of reach.
Boral independent directors say Stokes’ bid undervalues group
Boral’s minority shareholders were urged to reject Seven’s bid, based on an independent expert finding the shares are worth up to $7.13. Ryan Stokes disagrees.
February 2024
Saint-Gobain buys into CSR’s dark past along with its bright future
The French giant’s $4.3b takeover of the building products group, pivotal to Australia’s industrial development, isn’t without thorny issues.
Irish giant CRH’s $2.1b bid wins over Adbri
The independent directors of cement maker Adbri have agreed to the $3.20-per-share offer from NY-listed Irish group CRH.
$4.3b deal is a simple lesson in the benefits of good relationships
Saint-Gobain’s first approach arrived on CSR boss Julie Coates’ first day back after a summer break. Six weeks later, it’s a done deal.
CSR’s patient rebuild leads to a French revolution
Julie Coates restructured the company’s operations and rebuilt its supply chain. The lift in margins those moves created helped seal a big takeover deal.