James Hardie to pay CSR
(NZPA Sydney James Hardie Asbestos, I Ltd. is paying about sAustl9M in cash, for the asbestos cement division of Wunderlich, Ltd, a wholly owned subsidiary of CSR, Ltd. The acquisition comprises plant, equipment, stocks, and some land. James Hardie will finance the purchase principally from domestic borrowings. Details have been submitted to the Trade Practices Commission for clearance and, with what appears to be a partial statement of their case for T.P.C. approval, the directors have pointed out that the move is in line with the recommendations of the Industries Assistance Commission. The I.A.C. has recommended that local industries should seek wherever possible to improve their over-all efficiency, particularly if the opportunity for rationalisation should occur.
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Press, 1 June 1977, Page 18
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121James Hardie to pay CSR Press, 1 June 1977, Page 18
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