Brickworks Limited (ASX:BKW) Strengthens Its Masonry Business Through Acquisition
Sydney, Feb 9, 2010 AEST (ABN Newswire) - Brickworks Limited (
ASX:BKW) today entered into an agreement to purchase Brick and Block, a New South Wales-based producer of concrete masonry, for A$13.5 million.
Brick and Block is located in Port Kembla, south of Sydney, and has an installed capacity of around 100,000 tonnes per annum. The company was placed into Administration in November 2009, at which point Receivers and Managers were appointed to sell the company's assets.
The transaction will be completed in mid February 2010 and will be immediately earnings per share positive for Brickworks.
The acquisition of another substantial concrete block producer compliments the existing Austral Masonry(TM) businesses in Queensland and Victoria, giving the company its first manufacturing facility in New South Wales.
"This acquisition now makes Austral Masonry(TM) a truly significant East Coast business, with a market share now in excess of 20 per cent", said Mr Lindsay Partridge, Managing Director of Brickworks Limited.
About Brickworks Limited
Brickworks Limited (ASX:BKW) is one of the world's largest and most diverse building material manufacturers. Our company has built an enduring reputation with our customers – we are loved for our innovation, professionalism and ever-dependable products and services.
As Brickworks Building Products expands globally, we continually foster and advance our products and our brands. We continue to lead the way through design, style, innovation, sustainability, and collaboration.
Our commitment is to inspire, support, create and build better environments and places for our customers and communities; all integral to our clear vision to become the best building products company.
With a broad product portfolio and manufacturing and sales facilities across Australia & North America, Brickworks is uniquely placed to service the demands of the building industry.
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