Microsoft Word - Media Release Boral merges CMC and Building Products divisions 10 June 2016 MEDIA RELEASE

10 June 2016

Building Products to be combined with Construction Materials & Cement to form Boral Australia division

Boral Limited today announced that effective 1 July 2016, its Building Products division in Australia will combine with its Construction Materials & Cement division to form a new Boral Australia division.

Joe Goss, currently Divisional Managing Director Construction Materials & Cement, will become Divisional Chief Executive Boral Australia, responsible for the new merged division.

As previously announced, David Mariner, currently Executive General Manager of Boral's Building Products division in Australia, will be returning to the United States to replace Al Borm in the role of President & CEO of Boral USA, effective 1 July 2016. Al Borm, who has had a long career in the building products industry, will continue to be a member of the joint venture Board of USG Boral and will work in an advisory capacity to Boral for a transition period.

Mike Kane, Boral's CEO & Managing Director, said that bringing the smaller Australian Building Products division into Construction Materials & Cement will reduce costs and improve efficiencies. "This is a sensible and logical next step for Boral as portfolio realignment has seen the Building Products division substantially reduce in size over recent years.

"We will have three well defined operating divisions. In Australia, our strategy continues to be about protecting and strengthening our leading integrated positions and continuing to optimise assets to deliver strong returns. In the USA, it's about significant growth through market recovery and strategic portfolio realignment and expansion. And in our USG Boral plasterboard joint venture throughout Asia, Australasia and the Middle East, it's about long term growth through innovation, product penetration and market growth," said Mr Kane.

There will be no changes to Boral's divisional reporting for Building Products and Construction Materials & Cement for the year ended 30 June 2016.

Contact:

Kylie FitzGerald 0401 895 894

Kylie.fitzgerald@boral.com.au

Boral Limited ABN 13 008 421 761 - PO Box 1228 North Sydney NSW 2060 - www.boral.com.au

Boral Limited published this content on 10 June 2016 and is solely responsible for the information contained herein.
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