CSR (ASX:CSR) Sells Asian Business to Rockwool for A$128M

CSR Limited (ASX:CSR) said Tuesday it has entered into an agreement to sell its Asian Business to Danish stone wool producer Rockwool Group for A$128 million.

Under the agreement, the Rockwool Group will acquire 100 per cent of CSR's insulation, panels and trading business across the Asian region, excluding CSR's existing autoclaved aerated concrete plant in Malaysia. The company owns and operates three mineral wool factories in China, Malaysia and Thailand, as well as a panels plant in China.

The transaction enables CSR to focus on core market-leading positions in Australia and New Zealand building products market, CSR says.

CSR on Monday agreed to sell its sugar business to Singapore's Wilmar International Ltd (SIN:F34) for A$1.75 billion.


Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net

ABN http://www.abnnewswire.net

Copyright (C) 2010 ABN Newswire. All rights reserved.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.