CSR laments losses on Australian glass manufacturer Viridian

CSR conceded its takeover of Australian glass manufacturer Viridian might have been a dud, after the struggling glass division dragged down first-half earnings at the building products maker, according to a Nov. 10 article from The Canberra Times. Viridian Glass posted a $6.9 million first-half loss. CSR CEO Rob Sindel blamed weak residential and commercial construction sectors for the weaker earnings and expressed frustration with Viridian, which was bought for a much-criticized price of $690 million in 2007, according to the article.

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