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Article: Hardie surges on fibre cement deal.
- Article from:
- Australasian Business Intelligence
- Article date:
- December 13, 2001
CopyrightCOPYRIGHT 2001 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Dec 14, 2001 (The Age
ABIX via COMTEX) -- Australia's James Hardie Industries announced the purchase of $A75 million worth of US assets on 13 December 2001. The building materials group is to acquire Cemplank's US operations, thereby raising its share of the fibre cement market. Hardie's shares jumped by more than eight per cent following the announcement. The new assets will extend the company's geographical reach as well as generating synergies and savings in areas such as marketing and sales. Peter Macdonald, the CEO of James Hardie, said that the purchase has "significant upside".
JAMES HARDIE INDUSTRIES NV - ASX JHX: CEMPLANK INCORPORATED: ETEX ...