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[April 2001]
Acquisition in Australian Brick Industry
It has been reported that The Austral Brick Co Pty Ltd (a subsidiary of Brickworks Ltd) has recently contracted to acquire Bowral Brickworks Pty Ltd (Bowral, NSW, Australia). The purchase price was reported to be in the region of A$4.3 million plus A$2.1 million for inventories. The acquisition would be subject to ACCC approval.
The shale reserves of Austral's existing nearby plant in Eastwood are said to be nearing exhaustion, whereas reserves at Bowral are thought to be more than 40 years. The purchase of Bowral will allow Austral to relocate its Eastwood production to Bowral in the future, thereby enhancing the production efficiency of the company's NSW operations.
ENDS