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{{Short description|Australian building and construction material company}}
{{for|Boral, West Bengal|Garia}}{{Other uses|Boral (surname)}}
{{about||Boral, West Bengal|Garia|other uses|Boral (surname)}}
{{Use dmy dates|date=March 2020}}
{{Use dmy dates|date=March 2020}}
{{Infobox company
{{Infobox company
|name = Boral Limited
| name = Boral Limited
| logo = BorLogo-pro300.png
|logo = [[File:Boral Logo 2018.png|Boral Logo 2018]]
|type = [[Public company|Public]]
| type = [[Subsidiary]]
|traded_as = {{asx|BLD}}
| traded_as = {{ASX|BLD}}
|foundation = 4 March 1946
| foundation = {{Start date|1946|3|4|df=yes}}
|founder = David Craig
| founder = David Craig
|location = [[North Sydney, New South Wales|North Sydney]], Australia
| location = [[North Ryde]], [[New South Wales]], Australia
|key_people = Zlatko Todorcevski, CEO & Managing Director
| key_people = {{ubl|Ryan Stokes (chairman)|Vik Bansal (CEO & managing director)}}
|industry = Building and Construction Materials
| industry = Building and construction materials
| products = {{hlist|[[Concrete]]|quarry materials|[[cement]]|[[Bitumen|asphalt]]|recycled materials}}
|revenue = {{Steady}} {{A$|5.86 billion}} (2019)
| revenue = $3.46 billion
⚫
|operating_income = {{Decrease}} {{A$|1,037 million}} (2019)
| revenue_year = 2023
⚫
|homepage = {{URL|http://www.boral.com}}}}
⚫
| operating_income = $232 million
| income_year = 2023
| parent = [[Seven Group Holdings]]
⚫
| homepage = {{URL|boral.com.au}}
}}


'''Boral Limited''' is an Australian [[construction]] materials company manufacturing. It is owned by [[Seven Group Holdings]].
'''Boral Limited''' is a [[Multinational corporation|multinational]] [[company]] manufacturing and supplying [[building]] and [[construction]] materials.<ref name=Investsmart>{{cite web|title=Boral Limited Overview|url=https://www.investsmart.com.au/shares/asx-bld/boral-limited|website=InvestSMART|access-date=23 December 2017}}</ref><ref name=TheAust>{{cite web|title=Boral finds balance with ambitious US build-up|url=http://www.theaustralian.com.au/business/opinion/stephen-bartholomeusz/boral-finds-balance-with-ambitious-us-buildup/news-story/0759111aaf4008e1a45412de0e40679c|website=The Australian|access-date=23 December 2017}}</ref> Founded in Australia, it also has extensive operations in the United States and Asia.<ref name=Investsmart/><ref name=TheAust/><ref name="LampNewsBLD">{{cite web |title=Is Buying BORAL LTD ORD ORDINARY SHARES (OTCMKTS:BOALF) Here Good Idea? |url=https://lampnews.com/2019/11/01/trending-stock-news/is-buying-boral-ltd-ord-ordinary-shares-otcmktsboalf-here-good-idea/ |website=Lamp News |access-date=3 November 2019}}</ref> 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.<ref name=ASX>{{cite web|title=BLD Boral Limited|url=http://www.asx.com.au/asx/share-price-research/company/BLD/details|website=ASX|access-date=22 December 2017}}</ref>


== Divisions==
==History==
⚫
Boral was founded by David Craig on 4 March 1946 as Bitumen and Oil Refineries (Australia) Limited with [[Ampol|Caltex]] having a 40% shareholding. In March 1947, it opened [[Matraville Refinery]], Australia's first bitumen and oil refinery.<ref>[https://www.boral.com.au/about/history/1946-1949 Boral’s History 1946 – 1949] Boral</ref> 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, Australia|Victoria]]. In 1968 Boral sold a 50% stake in its refining business to [[TotalEnergies|Total]], before selling it the remainder in January 1972.<ref>[https://trove.nla.gov.au/newspaper/article/10704529 Boral shareholders approve] ''[[Canberra Times]]'' 4 April 1968 page 25</ref> In 1969, it entered the building materials industry through a number of acquisitions.<ref>[https://web.archive.org/web/20180317092119/http://acquia-prod.boral.com/history/1960-1969 1960 - 1969] Boral</ref><ref>[https://web.archive.org/web/20180317091826/http://acquia-prod.boral.com/history/1970-1979 1970 - 1979] Boral</ref>
Boral has three operating divisions:


⚫
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]].<ref>[https://trove.nla.gov.au/newspaper/article/101981184 Blue Circle cements $100m Boral profit] ''Canberra Times'' 8 March 1988 p. 23</ref><ref>[https://web.archive.org/web/20180317092213/http://acquia-prod.boral.com/history/1980-1989 1980 - 1989] Boral</ref> In 1990, [[Midland Brick]] was purchased.<ref>[https://web.archive.org/web/20190318103456/https://www.midlandbrick.com.au/MidlandBrick/media/Documents/Misc/70th-Anniversary-Web-Magazine.pdf 70 Years building WA] [[Midland Brick]]</ref>
* '''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 Corporation|USG]] formed a 50/50 joint venture.<ref>{{cite web|title=Boral & USG form Plasterboard & Ceilings JV|url=http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=BLD&timeframe=Y&year=2014|website=ASX|access-date=23 December 2017}}</ref> 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.<ref name="ASXBandK">{{cite web |title=ASX Release 26 August 2019 Boral agrees value-creating plasterboard transaction with Knauf |url=https://www.asx.com.au/asxpdf/20190826/pdf/447tsl4xzvn0w6.pdf |access-date=3 November 2019}}</ref> Further, Boral plans to acquire Knauf's 50% stake in USG Boral Australia and New Zealand to return it 100% Boral ownership.<ref name=ASXBandK/>
* '''Boral North America''' resulted from the acquisition and subsequent of [[Headwaters Incorporated|Headwaters]] by the company in May 2017. It supplies a variety of construction materials and building products.<ref>{{cite web|title=Boral gets US Federal Trade Commission approval for Headwaters takeover|url=http://www.afr.com/business/manufacturing/boral-gets-us-federal-trade-commission-approval-for-headwaters-takeover-20170504-gvyzci|website=Australian Financial Review|access-date=23 December 2017}}</ref><ref name=Head>{{cite web|title=Boral completes acquisition of Headwaters Inc.|url=http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=BLD&timeframe=Y&year=2017|website=ASX|access-date=23 December 2017}}</ref> 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.


⚫
In January 2000, Boral sold its tyre business to [[Bridgestone]].<ref>Bridgestone buys Boral's tyre business ''[[Truck & Bus Transportation]]'' March 2000 page 15</ref> In February 2000, Boral's energy assets were [[Corporate spin-off|spun off]] into a separate listed entity, [[Origin Energy]].<ref>[http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=4257&announcementId=162783 Admission to Official List] [[Australian Securities Exchange]] 4 January 2011</ref>
==History==
⚫
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]].<ref>[https://web.archive.org/web/20171222220156/https://www.boral.com/history/1946-1949 1946 - 1949] Boral</ref> 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, Australia|Victoria]]. In 1968 Boral sold a 50% stake in its refining business to [[Total S.A.|Total]], before selling it the remainder in January 1972.<ref>[https://trove.nla.gov.au/newspaper/article/10704529 Boral shareholders approve] ''[[Canberra Times]]'' 4 April 1968 page 25</ref> In 1969 it entered the building materials industry through a number of acquisitions.<ref>[https://web.archive.org/web/20180317092119/http://acquia-prod.boral.com/history/1960-1969 1960 - 1969] Boral</ref><ref>[https://web.archive.org/web/20180317091826/http://acquia-prod.boral.com/history/1970-1979 1970 - 1979] Boral</ref>


In December 2020, Boral sold [[Midland Brick]] to the [[Buckeridge Group of Companies]].<ref>[https://www.accc.gov.au/media-release/bgcs-proposed-acquisition-of-midland-brick-not-opposed BGC's proposed acquisition of Midland Brick not opposed] [[Australian Competition & Consumer Commission]] 17 December 2020</ref> This followed Boral selling its bricks business on Australia's east coast in 2016.
⚫
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]].<ref>[https://trove.nla.gov.au/newspaper/article/101981184 Blue Circle cements $100m Boral profit] ''Canberra Times'' 8 March 1988 page 23</ref><ref>[https://web.archive.org/web/20180317092213/http://acquia-prod.boral.com/history/1980-1989 1980 - 1989] Boral</ref> In 1990, [[Midland Brick]] was purchased.<ref>[https://web.archive.org/web/20190318103456/https://www.midlandbrick.com.au/MidlandBrick/media/Documents/Misc/70th-Anniversary-Web-Magazine.pdf 70 Years building WA] Midland Brick</ref>


In April 2021, Boral divested its plasterboard business, completing the process with the sale of its 50 per cent interest in the USG Boral joint venture to [[Knauf]] for US$1 billion.<ref>Baird, Lucas. [https://www.afr.com/companies/manufacturing/boral-launches-share-buy-back-after-1-3b-divestment-20210401-p57fse Boral launches share buyback after $1.3b divestment] ''[[Australian Financial Review]]'' 1 April 2021</ref> In May 2021, [[Seven Group Holdings]] launched a [[takeover offer]].<ref>Deare, Steven. [https://thewest.com.au/business/construction/boral-asks-investors-to-reject-seven-bid-c-2810423 Boral asks investors to reject Seven bid] ''[[The West Australian]]'' 11 May 2021</ref> In June 2021, Boral sold its United States operations to [[Westlake Chemical]].<ref>[https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02386227-2A1304322?access_token=83ff96335c2d45a094df02a206a39ff4 Boral agrees to sell its North American building products business] Boral 21 June 2021</ref>
⚫
In January 2000, Boral sold its tyre business to [[Bridgestone]].<ref>Bridgestone buys Boral's tyre business ''[[Truck & Bus Transportation]]'' March 2000 page 15</ref> In February 2000, Boral's energy assets were [[Corporate spin-off|spun off]] into a separate listed entity, [[Origin Energy]].<ref>{{cite web|title=Admission to Official List|url=http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=4257&announcementId=162783|website=ASX|access-date=23 December 2017}}</ref>


In July 2021, Seven gained control of Boral with a 70% shareholding.<ref>[https://clients3.weblink.com.au/pdf/SVW/02401391.pdf Notice of change of interests of substantial holder] Boral 30 July 2021</ref> In February 2024, Seven Group Holdings launched a takeover offer for the remainder of the shares it did not own.<ref>{{Cite web |last=Daunt |first=Adam |date=2024-02-20 |title=Boral recommends 'no action' for shareholders after Seven's billion-dollar bid |url=https://www.quarrymagazine.com/2024/02/20/boral-recommends-no-action-for-shareholders-after-sevens-billion-dollar-bid/ |access-date=2024-07-11 |website=Quarry |language=en-US}}</ref> It was rejected by Boral's board.<ref>[https://www.businessnews.com.au/article/Boral-rejects-Seven-Group-Holdings-31bn-takeover-offer Boral rejects Seven Group Holdings $3.1bn takeover offer] ''[[Business News (Australia)|Business News]]'' 19 March 2024</ref> After revising the offer, Seven Group Holdings gained full ownership of Boral in July 2024 and the company was delisted from the ASX.<ref>{{Cite web |last=Daunt |first=Adam |date=2024-07-04 |title=Seven Group Holdings speak about 'successful' Boral takeover |url=https://www.quarrymagazine.com/2024/07/04/seven-group-holdings-speak-about-successful-boral-takeover/ |access-date=2024-07-11 |website=Quarry |language=en-US}}</ref>
In July 2020, Zlatko Todorcevski joined Boral as CEO & Managing Director.<ref>{{cite web|title=Chief Executive Officer & Managing Director List|url=https://www.boral.com/person/zlatko-todorcevski|website=Boral|access-date=30 August 2020}}</ref>

In September 2020, Boral completed the sale of Midland Brick in Western Australia.<ref name="ACCCmb">{{cite web |title=BGC's proposed acquisition of Midland Brick not opposed |url=https://www.accc.gov.au/media-release/bgcs-proposed-acquisition-of-midland-brick-not-opposed |website=ACCC |access-date=17 December 2020}}</ref> This follows the exit of Boral’s interests in bricks on Australia’s east coast in 2016.


==References==
==References==
Line 39: Line 40:


==External links==
==External links==
*[https://www.boral.com/ Boral Corporate]
*{{Official website|https://www.boral.com.au/}}
*[https://www.boral.com.au/ Boral Australia]
*[http://www.boralamerica.com/ Boral America]


⚫
[[Category:Building materials companies of Australia]]
{{S&P/ASX 200}}
[[Category:Cement companies of Australia]]

[[Category:1946 establishments in Australia]]
[[Category:Manufacturing companies based in Sydney]]
[[Category:Manufacturing companies established in 1946]]
[[Category:Australian companies established in 1946]]
[[Category:Australian companies established in 1946]]
[[Category:Building materials companies of Australia]]
[[Category:Seven Network]]
[[Category:Companies based in Sydney]]
[[Category:Companies formerly listed on the Australian Securities Exchange]]
[[Category:Companies listed on the Australian Securities Exchange]]
⚫
[[Category:Multinational companies headquartered in Australia]]

Latest revision as of 10:37, 11 July 2024

For Boral, West Bengal, see Garia. For other uses, see Boral (surname).

Boral Limited
Company typeSubsidiary
ASX: BLD
IndustryBuilding and construction materials
Founded4 March 1946 (1946-03-04)
FounderDavid Craig
HeadquartersNorth Ryde, New South Wales, Australia
Key people
  • Ryan Stokes (chairman)
  • Vik Bansal (CEO & managing director)
Products
Revenue$3.46 billion (2023)
$232 million (2023)
ParentSeven Group Holdings
Websiteboral.com.au

Boral Limited is an Australian construction materials company manufacturing. It is owned by Seven Group Holdings.

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 Matraville Refinery, Australia's first bitumen and oil refinery.[1] 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.[2] In 1969, it entered the building materials industry through a number of acquisitions.[3][4]

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.[5][6] In 1990, Midland Brick was purchased.[7]

In January 2000, Boral sold its tyre business to Bridgestone.[8] In February 2000, Boral's energy assets were spun off into a separate listed entity, Origin Energy.[9]

In December 2020, Boral sold Midland Brick to the Buckeridge Group of Companies.[10] This followed Boral selling its bricks business on Australia's east coast in 2016.

In April 2021, Boral divested its plasterboard business, completing the process with the sale of its 50 per cent interest in the USG Boral joint venture to Knauf for US$1 billion.[11] In May 2021, Seven Group Holdings launched a takeover offer.[12] In June 2021, Boral sold its United States operations to Westlake Chemical.[13]

In July 2021, Seven gained control of Boral with a 70% shareholding.[14] In February 2024, Seven Group Holdings launched a takeover offer for the remainder of the shares it did not own.[15] It was rejected by Boral's board.[16] After revising the offer, Seven Group Holdings gained full ownership of Boral in July 2024 and the company was delisted from the ASX.[17]

References

[edit]
  1. ^ Boral’s History 1946 – 1949 Boral
  2. ^ Boral shareholders approve Canberra Times 4 April 1968 page 25
  3. ^ 1960 - 1969 Boral
  4. ^ 1970 - 1979 Boral
  5. ^ Blue Circle cements $100m Boral profit Canberra Times 8 March 1988 p. 23
  6. ^ 1980 - 1989 Boral
  7. ^ 70 Years building WA Midland Brick
  8. ^ Bridgestone buys Boral's tyre business Truck & Bus Transportation March 2000 page 15
  9. ^ Admission to Official List Australian Securities Exchange 4 January 2011
  10. ^ BGC's proposed acquisition of Midland Brick not opposed Australian Competition & Consumer Commission 17 December 2020
  11. ^ Baird, Lucas. Boral launches share buyback after $1.3b divestment Australian Financial Review 1 April 2021
  12. ^ Deare, Steven. Boral asks investors to reject Seven bid The West Australian 11 May 2021
  13. ^ Boral agrees to sell its North American building products business Boral 21 June 2021
  14. ^ Notice of change of interests of substantial holder Boral 30 July 2021
  15. ^ Daunt, Adam (20 February 2024). "Boral recommends 'no action' for shareholders after Seven's billion-dollar bid". Quarry. Retrieved 11 July 2024.
  16. ^ Boral rejects Seven Group Holdings $3.1bn takeover offer Business News 19 March 2024
  17. ^ Daunt, Adam (4 July 2024). "Seven Group Holdings speak about 'successful' Boral takeover". Quarry. Retrieved 11 July 2024.
[edit]
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