Screens & Feeders

Boral sells Indonesian business, buys joint venture

For the 2011 financial year (FY), the business generated revenue of US$150 million ($A140 million) with a once-off pre-tax profit of circa US$35 million ($A34 million) against current book value for FY2012.

The sale includes Boral?s concrete, quarry, precast operations and limestone reserves in Indonesia. Separate sales agreements will be effected in respect of the quarry and non-quarry businesses.

Completion of both sales agreements are expected before the end of FY2012 with proceeds used to reduce debt.

?The sale of the Indonesian construction materials business is in line with our strategy to realign the product portfolio to focus on core businesses where we hold leading market positions,? said Mark Selway, Boral?s chief executive officer. Lafarge is one such business.

Boral completed its acquisition of Lafarge?s interest in the Lafarge Boral Gypsum Asia in December 2011 and so has renamed the company Boral Gypsum Asia with plans in place for new product branding.

Boral will announce its first half results on 28 February, 2012 and expects results to be similar to those of the second half of FY2011. The group?s profit after tax is expected to be in the range of $65 million to $70 million.

Source: Boral Ltd

Leave a Reply

Send this to a friend