DJ CSR CEO Says No Plans To Sell Viridian Glass Business

MELBOURNE, Oct 25, 2009 -- CSR Ltd. (CSR.AU) Managing Director Jerry Maycock said Monday the company had no plans to sell its Viridian glass unit after writing down its carrying value by A$250 million in its first fiscal half.

CSR earlier Monday reported a net loss in the six months ended Sept. 30 of A$155.6 million, compared with a net profit of A$32.9 million a year earlier, because of the writedown on its glass business and reduced earnings from its building products unit. 

The company wrote down the value of Viridian on its recent performance and after a review of forecasts, particularly with the Australian dollar currently trading above 90 U.S. cents and the commercial building market having been soft for a number of years, Maycock told a conference call after CSR announced a A$375 million equity-raising in preparation for a spin-off of its sugar and renewable energy units.

Read the full story.

600450 DJ CSR CEO Says No Plans To Sell Viridian Glass Business

See more news about:

Others also read

ClearVue receives AS 2047 accreditation allowing for sale of its high-tech solar window in Australia
Smart building material company ClearVue Technologies Limited is pleased to announce it has now taken the next step on its commercialisation path, confirming certification of its solar window technology to Australian Standard AS 2047 (refer to ASX
Announcement of 4 June 2018).
Display Unit: A conceptual design of a Mirreco micro home incorporating ClearVue window technology
ClearVue signs MOU to provide Solar Window Technology to Industrial Hemp Based Sustainable Eco-friendly Micro Home provider Mirreco.
GA18 - AGGA National Conference
Don't miss out - Early Bird registration closing end of May!
Allegion to Acquire Australian Residential Door Hardware Leader Gainsborough, National Commercial Locksmith
Allegion, plc has agreed to acquire GWA Group Limited’s Door and Access Systems Business through one of its subsidiaries. The transaction is expected to close in the third quarter of 2018.
AluK: A new distributor down under
We’re delighted to announce that leading Australian system company Alspec has become AluK’s exclusive distributor on the Australian market, meaning AluK products will soon be available in the country.
Johnny Lam is Aurecon's new Managing Director for Greater China
To help clients unlock business opportunities in developing critical infrastructure, global engineering and infrastructure advisory company Aurecon has appointed industry veteran Johnny Lam to spearhead the company’s business development and strategy execution in Greater China.

Add new comment