Boral

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Boral Limited
TypePublic
ASXBLD
IndustryBuilding and Construction Materials
Founded4 March 1946
FounderDavid Craig
HeadquartersNorth Sydney, Australia
Key people
Zlatko Todorcevski, CEO & Managing Director
RevenueSteady A$5.86 billion (2019)
Decrease A$1,037 million (2019)
Websitewww.boral.com

Boral Limited is a multinational company manufacturing and supplying building and construction materials.[1][2] Founded in Australia, it also has extensive operations in the United States and Asia.[1][2][3] With revenue for total operations of A$5.86 billion (2019), Boral has about 17,000 employees working across 17 countries at 672 operating sites and 154 distribution sites. Its headquarters are located in Sydney, Australia.[4]

Divisions[edit]

Boral has three operating divisions:

  • Boral Australia has quarry, concrete, asphalt, concrete placing, cement, roofing, and hardwood and softwood timber operations. The division is a major supplier of products and materials to the residential and commercial construction, and roads and engineering markets.
  • USG Boral manufactures and supplies plasterboard based wall, ceiling lining systems and accessories in Asia, Australasia and the Middle East. The division came into existence in 2014 when Boral Gypsum and USG formed a 50/50 joint venture.[5] In August 2019 plans were announced for USG Boral to acquire Knauf Asia Plasterboard, which includes China and South East Asia and to sell the Middle East business to Knauf.[6] Further, Boral plans to acquire Knauf's 50% stake in USG Boral Australia and New Zealand to return it 100% Boral ownership.[6]
  • Boral North America resulted from the acquisition and subsequent of Headwaters by the company in May 2017. It supplies a variety of construction materials and building products.[7][8] The division has a national fly ash processing and distribution business and manufactures stone veneer, concrete and clay roof tiles, concrete block, light building products and windows for residential and commercial construction markets.

History[edit]

Boral was founded by David Craig on 4 March 1946 as Bitumen and Oil Refineries (Australia) Limited with Caltex having a 40% shareholding. In March 1947, it opened Australia's first bitumen and oil refinery in Matraville.[9] In 1963, the company was renamed Boral Limited having been commonly referred to by its acronym since it commenced trading. In 1964 it purchased the Gas Supply Company with 28 coal gas companies in New South Wales, Queensland and Victoria. In 1968 Boral sold a 50% stake in its refining business to Total, before selling it the remainder in January 1972.[10] In 1969 it entered the building materials industry through a number of acquisitions.[11][12]

In 1979, Boral entered the United States market, purchasing a 55% shareholding in California Tile from Amalco. In February 1987 Boral purchased cement manufacturer Blue Circle Southern Cement from BHP and Blue Circle Industries.[13][14] In 1990, Midland Brick was purchased.[15]

In January 2000, Boral sold its tyre business to Bridgestone.[16] In February 2000, Boral's energy assets were spun off into a separate listed entity, Origin Energy.[17]

In December 2020, Boral sold Midland Brick to the Buckeridge Group of Companies.[18] This followed Boral selling its bricks business on Australia’s east coast in 2016.

References[edit]

  1. ^ a b "Boral Limited Overview". InvestSMART. Retrieved 23 December 2017.
  2. ^ a b "Boral finds balance with ambitious US build-up". The Australian. Retrieved 23 December 2017.
  3. ^ "Is Buying BORAL LTD ORD ORDINARY SHARES (OTCMKTS:BOALF) Here Good Idea?". Lamp News. Retrieved 3 November 2019.
  4. ^ "BLD Boral Limited". ASX. Retrieved 22 December 2017.
  5. ^ "Boral & USG form Plasterboard & Ceilings JV". ASX. Retrieved 23 December 2017.
  6. ^ a b "ASX Release 26 August 2019 Boral agrees value-creating plasterboard transaction with Knauf" (PDF). Retrieved 3 November 2019.
  7. ^ "Boral gets US Federal Trade Commission approval for Headwaters takeover". Australian Financial Review. Retrieved 23 December 2017.
  8. ^ "Boral completes acquisition of Headwaters Inc". ASX. Retrieved 23 December 2017.
  9. ^ 1946 - 1949 Boral
  10. ^ Boral shareholders approve Canberra Times 4 April 1968 page 25
  11. ^ 1960 - 1969 Boral
  12. ^ 1970 - 1979 Boral
  13. ^ Blue Circle cements $100m Boral profit Canberra Times 8 March 1988 page 23
  14. ^ 1980 - 1989 Boral
  15. ^ 70 Years building WA Midland Brick
  16. ^ Bridgestone buys Boral's tyre business Truck & Bus Transportation March 2000 page 15
  17. ^ "Admission to Official List". ASX. Retrieved 23 December 2017.
  18. ^ BGC's proposed acquisition of Midland Brick not opposed Australian Competition & Consumer Commission 17 December 2020

External links[edit]