CSR NZ, Brickworks seek merger in face of NZ building downturn

Mon, 03 Sep 2012

Sept. 4 (BusinessDesk) – The New Zealand unit of Australian building materials company CSR has sought antitrust clearance to merge its bricks business with that of smaller rival Brickworks Building Products (NZ), saying demand has “plummeted” while costs are higher and both have surplus capacity. The two companies are proposing a 50-50 joint venture. Brickworks had $13.3 million of annual sales in the year ended March 31, 2010, while CSR Building Products (NZ) had sales of $60.9 million in the year ended March 31, 2012, its accounts show. The...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets FREE
RBA hikes rates by 50 basis points
Ella Somers | Tue, 05 Jul 2022

The RBA’s hike was widely expected to be either in the 25bp or 50bp camp so the decision to go with a 50bp jump didn’t come as a huge surprise.

Health
Kiwis' mental health down during pandemic, says wellbeing survey
Greg Hurrell | Tue, 05 Jul 2022

A Statistics NZ wellbeing survey that was cut short by last year's covid lockdown shows that more than a quarter of the population suffered from poor mental health.

Energy
Genesis could extend Huntly's life to post-2040 using biomass
Ian Llewellyn | Tue, 05 Jul 2022

Genesis considers the lifecycle of the Rankine units running on biomass can be extended to 2040 and possibly beyond.

Sponsored
How can Kiwi small business owners manage rising inflation?

Xero MD Craig Hudson says small businesses have been hit with a triple whammy.

Sponsored
Digital innovation could shape the future of NZ

The digital age allows us to collaborate on some of our greatest scientific and environmental challenges