CSR Limited has announced that it will invest $50 million to construct a Bradford Gold™ glasswool insulation manufacturing plant in Brendale, 18km north of Brisbane CBD at Pine Rivers,Queensland.

Bradford is the largest insulation producer in theAsia Pacific region and this new factory will increase its total glasswool production capacity in Australia by over 30%.

Market demand for insulation is growing rapidly following national building code legislation which requires higher levels of insulation in new residential and commercial buildings.

Heightened community awareness of climate change issues has also increased demand as insulation provides an immediate and cost effective solution to improve the energy efficiency of existing buildings.Insulation saves heating and cooling energy use by up to 40%, and keeps homes more comfortable in both summer and winter.

With the rapid growth in home air conditioning, particularly in the warmer states of Australia,insulation is now more important than ever.Product supplied over the life of the Brendale plant will help save over 20 million tonnes of greenhouse gas emissions.

“This new facility will ensure that CSR can continue to offer the full range of high performance Bradford Gold™ insulation materials required to meet Australia’s rapidly growing demand,” said CSR Managing Director Jerry Maycock.

“The Pine Rivers plant, targeted for completion in November 2008, will be a world class manufacturing operation utilising the best available technology to ensure the sustainability of its operations by minimising emissions, recycling water and reducing waste,” he said.

Bradford Gold™ insulation is produced from up to 80% recycled glass,with a large proportion of this being glass reclaimed from consumers.

“CSR is proud to be making such a strong contribution to the sustainability of our environment. We are very grateful to both the Queensland State

Government for its pro-active support, and the Pine Rivers Shire Council which, as the local authority, has greatly assisted CSR in this investment opportunity,” MrMaycock said.

Minister for State Development John Mickel welcomes CSR’s decision to build the new world-class facility in Queensland.

“The new CSR plant is a prime example of Queensland’s credentials as a location of choice for large-scale advanced manufacturing projects,” Mr Mickel said.

“The Queensland Government’s aggressive approach to attracting investment projects has significantly contributed to the State economy over the last decade.Since 1998, the State has attracted investment and projects which have created 15,000 new jobs worth an estimated$3.4 billion.

“CSR is to be commended not only for the economic contribution this project will make to Queensland, but also the sustainability principles that will be incorporated into the plant’s design and day to day operation.”

The Mayor of Pine Rivers Shire Council, Cr. Yvonne Chapman welcomed the new investment in the Shire.

“We as a Council are actively working to create job opportunities for our residents by working closely with existing business while striving to attract new industry into the Shire”, she explained.

“This will create new jobs with high levels of skills. We have been pleased to work cooperatively with CSR to secure this important investment which fits with theShire’s sustainable development strategy.”