The Australian Financial Review has reported that Boral Ltd
(ASX:BLD) is sitting on $1 billion which it could spend on acquisitions without having to raise capital.
In an interview with the paper, Boral chief executive Mark Selway says he remains bullish on US house prices, despite the company dropping its US housing starts forecasts.
Mr Selway says now is an opportune time to expand in the US, even though he expects the company to lose around $100 million in the US market this year.
For the year ended 30 June 2010, Boral reported a net loss of $89.3 million.
