CSR to sell door panels plant at Ipswich

CSR Limited has signed an agreement to sell the Feature Panels moulded door panel operation at Ipswich, in Queensland, to Hume Masterpanel Pty Ltd, a member of the Hume Doors & Timber group of companies.

The transaction is expected to be completed early in April. The sale price was not disclosed.

All of the 56 CSR employees at the Ipswich plant (capacity 4 million door panels p.a.) will be offered employment with the new owners.

CSR’s newly-constructed moulded door skin plant at Oberon is not included in the sale to Hume, but negotiations are continuing with interested parties to sell this plant - the only operation in the company’s Timber Products business which has not yet been sold (subject to regulatory approval of other recent transactions).

CSR Managing Director Peter Kirby said: “CSR appreciates the support of the Queensland Government in facilitating the sale to Hume, and ensuring a more secure future for CSR’s employees at the plant.”