In a strategic move to expand its footprint in the Asia-Pacific region, Saint-Gobain has successfully completed its acquisition of CSR Limited, a leading player in the Australian construction materials market.
This acquisition aligns strongly with Saint-Gobain’s “Grow & Impact” strategy, reinforcing its worldwide leadership in light and sustainable construction.
CSR is a renowned brand in Australia, with its Building Products division generating A$1.9 billion in sales and an EBITDA margin of approximately 18% for the fiscal year ending March 31, 2024. The company’s portfolio of trusted and iconic building materials brands will complement Saint-Gobain’s existing offerings, allowing the combined entity to better serve the fast-growing Australian construction industry.
Benoit Bazin, Chairman and Chief Executive Officer of Saint-Gobain, expressed his enthusiasm for the acquisition, stating, “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.”
As part of the integration process, Julie Coates, the outgoing Managing Director and Chief Executive Officer of CSR, will step down from her role but will continue to serve on the newly established CSR board to ensure a smooth transition. Saint-Gobain is pleased to announce the appointment of Paul Dalton, currently CSR Executive General Manager of Interior Systems, as the new Chief Executive Officer.
Bazin commended Julie Coates for her exceptional leadership and contribution to CSR’s success, stating, “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.”
Incoming CEO Paul Dalton expressed his excitement about the opportunities ahead, saying, “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.”
This strategic acquisition underscores Saint-Gobain’s commitment to expanding its presence in the Asia-Pacific region and strengthening its position as a global leader in light and sustainable construction. By leveraging the expertise and synergies between the two companies, the combined entity is well-positioned to capitalize on the growth opportunities in the Australian construction market and deliver enhanced value for its customers, employees, and shareholders.
Source:Saint-Gobain Glass with additional information added by GlassBalkan
