Boral Limited is Australia's largest building and construction materials supplier, with market-leading positions in quarries, cement, concrete and asphalt. Boral is actively pursuing a decarbonisation strategy through recycling of demolition materials, converting landfill and waste to energy and transitioning to 100 percent renewable electricity.[1] With revenue for total operations of A$2.96 billion (2022), Boral has about 9,000 employees and contractors working across 356 operating and distribution sites. Its headquarters are located in Sydney, Australia.[2]

Boral Limited
TypePublic
ASXBLD
IndustryBuilding and construction materials
Founded4 March 1946
FounderDavid Craig
HeadquartersNorth Ryde, New South Wales, Australia
Key people
  • Ryan Stokes (Chairman)
  • Vik Bansal (CEO & Managing Director)
Products
Revenue$2.96 billion (2022)
$263 million (2022)
ParentSeven Group Holdings (70%)
Websiteboral.com.au

HistoryEdit

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.[3] 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.[4] In 1969, it entered the building materials industry through a number of acquisitions.[5][6]

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.[7][8] In 1990, Midland Brick was purchased.[9]

In January 2000, Boral sold its tyre business to Bridgestone.[10] In February 2000, Boral's energy assets were spun off into a separate listed entity, Origin Energy.[11]

In December 2020, Boral sold Midland Brick to the Buckeridge Group of Companies.[12] 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 group for US$1.015 billion.[13] In May 2021, Seven Group Holdings launched a takeover bid.[14] In June 2021, Boral sold its United States operations to Westlake Chemical.[15] In July 2021, Seven gained control of Boral with a 70% shareholding.[16]

ReferencesEdit

  1. ^ "Boral Limited Overview". KOESEC. Retrieved 28 October 2021.
  2. ^ "BLD Boral Limited". ASX. Retrieved 22 December 2017.
  3. ^ "1946 - 1949". Boral. Archived from the original on 22 December 2017.
  4. ^ Boral shareholders approve Canberra Times 4 April 1968 page 25
  5. ^ 1960 - 1969 Boral
  6. ^ 1970 - 1979 Boral
  7. ^ Blue Circle cements $100m Boral profit Canberra Times 8 March 1988 page 23
  8. ^ 1980 - 1989 Boral
  9. ^ 70 Years building WA Midland Brick
  10. ^ Bridgestone buys Boral's tyre business Truck & Bus Transportation March 2000 page 15
  11. ^ "Admission to Official List". ASX. Retrieved 23 December 2017.
  12. ^ BGC's proposed acquisition of Midland Brick not opposed Australian Competition & Consumer Commission 17 December 2020
  13. ^ Boral launches share buyback after $1.3b divestment Australian Financial Review
  14. ^ Boral asks investors to reject Seven bid The West Australian 11 May 2021
  15. ^ Boral agrees to sell its North American building products business Boral 21 June 2021
  16. ^ Notice of change of interests of substantial holder Boral 30 July 2021

External linksEdit