We wish to announce that CSR Ltd Australia (CSR) has agreed to sell its Asian insulation business and Rockwool International A/S (RI) has agreed to buy this business. To this effect an agreement was signed by the parties on Tuesday 6 July. The legal transfer of CSR’s Asian Insulation business to RI is expected to take up to a period of 6 months to be formalized.
CSR has decided to accept the offer made by RI to acquire CSR’s Asian Insulation businesses as it is in line with CSR’s present strategic focus, which is to grow the core geographical markets of Australia and New Zealand.
For RI the prospects of this acquisition are far reaching in terms of future growth opportunities as the acquisition results in a combined business entity that would be the largest stone wool manufacturer in Asia and would position ROCKWOOL® as the leading stone wool brand in South East Asia and China.
This entity would continue to set the energy efficiency agenda in the region by providing impartial information and advice to Government bodies and the building industry on the benefits of thermal insulation.
More information can be found in the Investor section of the home pages of both companies (www.csr.com.au and www.rockwool.com).
In case you would like to discuss the details further please do not hesitate to contact your normal contact person or one of the undersigned persons.
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