Brickworks Limited has announced the acquisition of Boral Limited’s NSW Masonry operations.
Brickworks officially took over on 8 February once the transaction was completed.
The Australian Competition and Consumer Commission made the announcement in late January that it would not oppose the acquisition and the transaction was finalised on the 8 February at Brickwork's subsidiary, Austral Masonry.
Lindsay Partridge managing director for Brickworks Building Products said that the acquisition would mean the delivery of manufacturing, sales and administrative synergies at Austral Masonry as well as enabling an expanded paving and retaining wall product range to be offered along the East Coast.
“Furthermore, it will provide Brickworks with additional exposure to the expected strong growth in multi-residential construction in New South Wales over the medium term,” Partridge said.
"In 2006 Brickworks owned one Masonry plant in Dandenong, Victoria. Once the acquisition is complete, Brickworks will be established as the 2nd largest masonry manufacturer nationally, with strong positions in all key East Coast markets,” he added.
