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Brickworks Enters Into Binding Agreement With Redland Brick

  • November 06, 2019 01:46 PM AEDT
  • Team Kalkine

Brickworks Limited (ASX: BKW) entered into a binding agreement to buy the assets of Redland Brick Inc. for a total value of up to $70 million (US$48 million).

Gold MTF non-AMP

  • The acquisition includes four modern manufacturing sites, including two in Maryland and one each in Pennsylvania and Virginia;
  • Acquisition of these assets is a quicker and cost-effective way to achieve a modern network of highly utilised manufacturing plants;
  • The transaction is expected to complete in February 2020 and add 3% EPS in three years.

At AEST 01:36 PM, the stock was trading at $18.5 per share, up by 0.8% from its previous close.

 


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