CSR

Shares / Stock Code

CSR

Stock Exchange / Sharemarket

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CSR Limited (CSR) is a company engaged in sugar, aluminium and the manufacturing of construction and building materials. It has main operations in Australia, New Zealand and in Asia. CSR was listed on the Australian Stock Exchange on the 31st of March 1962. Its average annual revenue reaches approximately $3 billion out of its issued capital of $919 million. Its headquarters is located in Chatswood, Australia and to date; around 4,000 people are employed in the company. CSR Limited operates in three business segments: sugar, aluminium and building products and through these three business segments, CSR holds the 25% interest in the Tomago aluminum shelter.

The sugar business segment of CSR Limited is in charged of the manufacturing of around 40% of the raw sugar input in Australia. Also, under this segment, CSR owns 75% of the interests in the joint ventures for refined sugar. These joint ventures comprise of suppliers across Australia and New Zealand. Included in its activities under this segment are the solvents and specialty chemicals, electricity co-generation and distilling and marketing ethanol.

The aluminium segment of CSR has an active participation in the production of aluminium through its joint venture with the Tomago Smelter which is located in New South Wales. Include in the products produced by this segment are the Rolling slabs, Extrusion billets and Mould Ingots. 70% of the shares of the aluminium interests in the company are held by the Gove Aluminium Finance Limited (GAF). AMP Life Limited also holds some portions of the shares in the company.

The building materials segment of CSR Limited maintains seven products: Bradcore Panel Systems, Bradford insulation, Gyprock Plasterboard, Cemintel Fibre Cement, PGH Bricks, Monier and Wunderlich Roofing and Hebel Aerated Lightweight Concrete.

CSR Limited Company History

CSR is Australia's second oldest sugar company and was founded in Sydney. It was established in 1855 as a sugar refiner and became public in 1887. CSR started building material manufacturing in 1936. In the 1960's the company had started mining for alumina, bauxite, aluminium, petroleum and other minerals. Plaster mill was built in Sydney in 1942. RII Weyerhaeuser World Timberfund purchased CSR's saw mills and timber plantations in Dartmoor, Victoria and South Australia in April 1999. Grosvenor Lodge Products also bought CSR’s four landfills in Melbourne. Moor-Tex Concrete Products, Eastern Shore Concrete Pipe and Dolese Bros were obtained in 1999. CSR’s Ipswich Hardboards business was traded to the Hudson Investment Group.

Setco and American Precast Concrete were the two manufacturers bought by CSR in 2000. 7.3 hectare property at New Farm in Brisbane was traded to Mirvac and the company entered an agreement with Oberon Company in New South Wales. The major remaining timber businesses cost around $420 when CSR sold it in the same year.

Billiton Aluminum Australia Pty purchased Bauxite and Gove Alumina interest of CSR. Hume Masterpanel Pty acquired CSR's FeatuPanels moulded operation in Ipswich. CSR spent $84 million when it acquired Leppert Concrete Products and Wilson Concrete Company. The concrete pipe business in Florida was also gained by the company.

Cemex was purchased for $42 million and for $15.3 million by CSR. Mid-Coast Concrete Company in Florida was obtained by CSR America in 2001. CSR’s Rinker Material Corporation division got Hanson in 2001 and Keiwit Materials Company in 2002 for $540 million.

The five-year plan in 1998 to extend its heavy building materials operations in the US was finally completed in March 2003. Chairman Morschel and Directors David Clarke, John Arthur and John Ballard tendered their resignation to be part of Rinker board. The new chairman was Ian Blackbourne. The development of CSR’s 35 hectare at Woodcroft, Blacktown was done in 2003 when the company had an understanding with Mirvac Homes. In March 2003, the CSR/Rinker demerger occured.

Man Group's Sugar Australia's 25% interest was bought by CSR in 2004. The Karreman Roof Tiles in Brisbane was bought by CSR for $12.5 million including its stocks. GPT Group spent $95 million in buying the Industrial land at Erskine Park, Western Sydney in October 2006. Don Mathieson & Staff Glass, Australia's distributor and processor of flat glass was finally taken by the company in October 2007.