Jun 4 2002
Australia’s largest floor tile manufacturer, Eureka Tile is set to be acquired by Austral Tile Pty Ltd. Austral Tile is a wholly owned subsidiary of Brickworks Ltd and sister company to Austral Brick. The new conglomerate will trade as Eureka Tiles.
Austral will pay $12.75 million to acquire Eureka, which is currently privately owned by Catalyst. The purchase encompasses land, plant, assets and inventories associated with Eureka’s two plants in Ballarat, Victoria (Australia).
While the acquisition will make Austral the largest floor tile producer in Australia, manufacturing an estimated 2 million square metres per year, this constitutes only a fraction of the estimated annual domestic consumption of 25 million square metres per year. Currently over 80% of floor tiles in Australia are coming from overseas sources. This provides an opportunity for Austral to greatly increase their market share in this field.
Eureka has been in operation for over 30 years and has capacity to produce 1 million square metres of unglazed and glazed floor tiles as well as 200,000 units of bathroom fittings.
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