Brickworks continues US expansion

Company News

by Rachael Jones

Brick manufacturer Brickworks (ASX:BKW) is continuing its expansion into the US by purchasing of Iowa-based Sioux City Brick for $47 million.

Sioux City has two modern manufacturing plants in Iowa, and has a leading position in the Midwest of the United States, where it has built a strong reputation for premium architectural products.

The acquisition supports Brickworks’ growth strategy in North America.

Last November the company bought America's fourth-largest brick manufacturer, Glen-Gery, in a deal worth $151 million.

Shares in Brickworks (ASX:BKW) are trading 1.92 per cent higher at $16.21.

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