Building materials supplier Boral says it will acquire a North American stone veneer supplier, Owens Corning Masonry Products (Cultured Stone), for a minimum $US90 million ($A90.73 million).
Building materials supplier Boral says it will acquire a North American stone veneer supplier, Owens Corning Masonry Products (Cultured Stone), for a minimum $US90 million ($A90.73 million).

Boral is merging its construction materials and cement divisions into one business, resulting in the departure of long-serving manager Murray Read.

The building materials company said Mr Read's position as divisional managing director of construction materials would be made redundant on July 1.

The company gave no indication the merger of the two divisions would impact other employees.

Boral has recently cut up to 700 jobs as part of a major restructure to cut costs in the face of an ongoing slump in housing construction.

"The consolidation of construction materials and cement into a single division is the next step of Boral's restructuring initiatives," chief executive Mike Kane said in a statement on Monday.

Joseph Goss, a senior executive in the cement division of Lafarge North America, has been appointed to manage the newly merged division.

The West Australian

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