CSR hopes glass will offset weakness

Volatile sugar prices and a weak housing market have prompted CSR to put on hold plans for a break-up as the company focuses on its renewable energy and glass businesses. CSR had indicated in November…

Volatile sugar prices and a weak housing market have prompted CSR to put on hold plans for a break-up as the company focuses on its renewable energy and glass businesses. CSR had indicated in November 2007 that a restructuring of the company in late 2008 was possible. Wesfarmers“ AUD 2.5 billion rights issue announced in April 2008 was a good indication of confidence in the conglomerate model, lending support to the CSR business mix. CSR launched Viridian, a rebranded glass division earlier in 2008, which resulted from the combination of the acquisitions of Pilkington and DMS Glass.