Michelmersh buys FLB
Published: 13 April, 2010
BERKHAMSTEAD: Michelmersh, the UK's fourth largest brick manufacturer completed its purchase of Freshfield Lane Brickworks last week.
Around 7.69 million new ordinary shares being issued in relation to the placing and the acquisition of FLB have now been admitted to trading.
Eric Gadsden, chairman of Michelmersh said: "The acquisition of FLB enables us to expand our operations and significantly broaden our customer base. We view it as a very compelling move forward for the business and one from which we can create real shareholder value and establish a strong platform for the company's future.
The company will announce its final results for the 12 months to 31 December 2009 on 15 April 2010.
The company also announced that Alan Hardy and Frank Hanna have joined the Michelmersh board. Mr Hardy will initially assume the role of director, responsible for integration of the Group's activities.
Mr Hanna has been appointed group commercial director and will take charge of all sales and marketing of the Group's range of clay products.