Brickworks Limited (ASX:BKW) Announces Two New Key Finance Facilities For Building Leases and Plant Construction
Sydney, May 26, 2010 AEST (ABN Newswire) - Brickworks Limited (
ASX:BKW) (PINK:BRKWF) today announces two key financing facilities that will further strengthen its balance sheet and financial position.
A$94 million has been refinanced with the Commonwealth Bank of Australia (ASX:CBA) ("CBA") on favourable 3 year terms for the CDC (Coles Cold Store) and Toll property trust buildings. These properties are owned jointly by Brickworks and the Goodman Australia Industrial Fund ("GAIF"). They are high quality assets located in Western Sydney with long term leases in place.
The CBA is also providing a A$65 million construction facility and operating lease for the expansion of the Wollert plant in Victoria. This facility secures funding for this plant for the next 12 years. Construction of the expansion is progressing well and is currently on schedule.
Brickworks Managing Director, Mr Lindsay Partridge said, "we are very pleased with the support received from the CBA and these facilities demonstrate confidence in both the quality of assets and long term strategy of the company. The Wollert plant expansion will ensure we maintain our market leading position in the Victorian brick market".
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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