Boral Limited
TypePublic
ASX: BLD
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$3.46 billion (2023)
$231.5 million (2023)
ParentSeven Group Holdings (72.6%)
Websiteboral.com.au

Boral Limited is an Australia-based integrated construction materials company. The Company is engaged in producing and selling a broad range of construction materials including quarry products, cement, concrete, asphalt and recycled materials. The Company's segments include Construction Materials and Property. The Company's Construction Materials segment operates across Australia and offers quarries, concrete, asphalt, landfill, cement, recycling, transport and placing. Its Property segment is engaged in the development or divestment of surplus properties. The Company's products are offered to end-use markets, which include residential and non-residential construction and the engineering and infrastructure markets.[1] With revenue for total operations of A$3.46 billion (2023), Boral has about 7,500 employees and contractors working across 360 operating and distribution sites. Its headquarters are located in Sydney, Australia.[2]

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 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]

References

  1. ↑ "Boral Limited Overview". Financial_Times. Retrieved 16 August 2023.
  2. ↑ "BLD Boral Limited". ASX. Retrieved 22 December 2017.
  3. ↑ Boral’s History 1946 – 1949 Boral
  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. 4 January 2011. 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
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