Boral Limited
(ASX:BLD) is selling its Indonesian construction metals business for an enterprise value of $135 million to Siam Cement Group.
The sale will be by two separate sales of the quarry and non-quarry businesses, and is expected to be completed by end of the year.
Boral’s using the proceeds to reduce debt. Chief executive Mark Selway says the sale’s in line with the company’s strategy to realign the product portfolio to focus on the core businesses Boral holds leading market positions in.
The company will report its first half results on February 28.
Boral reported a net profit of $165.4 million for the year to June 2011.
