Brickworks Limited acquires Sasso Precast Concrete for $35 million

Published: 05-Mar-2010

Brickworks Limited has purchased Sasso Precast Concrete, a substantial manufacturer of precast concrete panels for $35.25 million.

Sasso Precast Concrete is located in Wetherill Park, west of Sydney in New South Wales. Sasso has been in operation for approximately 10 years. This plant is a current state-of-the-art manufacturing facility, commissioned during late 2007. The transaction will diversify the building products offering and will be immediately earnings per share positive for the company.

Brickworks also confirm that it has received the final payment of $17.5 million from AV Jennings for the sale of Stage 3 of the Eastwood site in Sydney. That finalizes the sale of this property with proceeds received totaling $70.0 million.

Sasso Precast Concrete is a precast concreting group. Precast concrete offers advantages in speed of construction, dramatically reducing labor force on site and producing a high quality finished product.

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