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.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.