CSR Limited
(ASX:CSR) will acquire AFS Products Limited in an agreement that will push CSR into the structural walling systems market.
The manufacturer and supplier of building products will acquire AFS for an initial consideration of $40 million following completion of the transaction. Additional payments over the next three years are subject to achieving growth targets.
CSR Managing Director Rob Sindel, says AFS provides an opportunity for CSR to increase its exposure to the growth in the multi-residential construction market.
Senior AFS management will remain with the company for at least the next three years.
CSR reported a net profit of $51.4 million in the six months to September 2013.
