Brickworks

Brickworks announced the acquisition of Glen-Gery, America's fourth-largest brick manufacturer, for $151 million. The deal marks Brickworks' first foray into the US market.

Brickworks announced the acquisition of Glen-Gery, the fourth largest brick manufacturer in the USA, for A$151 million (US$110 million). Glen-Gery has 10 manufacturing plants and annual sales of approximately 230 million bricks.

Brickworks, the Neilsen Group and the Neumann Group formed a joint venture, Southern Cross Cement, to build a circa $50 million cement import terminal in Brisbane. The terminal will have 40,000 tonnes of silo storage and is expected to be commissioned within 18 months.

CSR's New Zealand unit and Brickworks Building Products (NZ) have sought anti-trust clearance to merge their brick businesses into a 50-50 joint venture, citing plummeting demand and surplus capacity. The deal would exclude CSR's New Lynn plant.