Hanson acquire US brick manufacturer

HANSON have announced the acquisition of US brick manufacturers Athens Brick Co. Inc. from Texas Industries for $40.4 million (£21.6 million) in cash.

"Athens produce facing bricks at two plants in Texas and one in western Louisiana and primarily serve markets in Texas and adjoining states, including the major metropolitan areas of Dallas/Fort Worth, Houston, San Antonio, Austin and Shreveport. The combined annual capacity of the three plants, which employ around 90 people, is 90 million bricks. Athens control sufficient clay and shale reserves for more than 20 years’ production."

"Athens’ plants will be integrated into Hanson Brick’s South Central region, bringing its combined annual capacity of facing bricks to approximately 450 million from eight plants. This region consumes a significant proportion of the total US facing brick output and projections for population growth in Texas for the foreseeable future are well ahead of the national average."

"Richard Manning, president of Hanson Building Products North America, said: ‘The acquisition of Athens is consistent with Hanson’s strategy of pursuing bolt-on acquisitions where we can enhance existing strong positions in our core products and markets. Athens will strengthen our presence in the South Central region and is anticipated to be earnings enhancing from the outset.’"

"In 2003 Hanson embarked on the integration and rebranding of their seven brick businesses into one unified company –– Hanson Brick. With a capacity of 1.6 billion bricks from 22 plants (excluding Athens), Hanson Brick are the largest brick manufacturers in North America and the third largest in the US."