Michelmersh Brick Holdings PLC (AIM: MBH) – saving the UK from its brick shortage
Michelmersh Brick Holdings PLC (AIM: MBH) is the UK’s largest specialist brick manufacturer and the owner of five market-leading brands: Blockleys, Charnwood, Freshfield Lane, Michelmersh and Hathern Terra Cotta. The company operates a fully integrated business combining the manufacture of clay bricks, tiles and pavers.
The company was established in 1997 and floated on AIM in 2004. Michelmersh is an asset rich company (Tangible net asset at 30th June 2014: £45m) and the group have been profitable since 2011. Today, management announced that their expansion project at their Sussex-based Freshfield Lane Brickworks has been successfully completed. This £2.2 million project, which was completed within its time-frame and budget, extends capacity at the plant by 20 per cent. The investment encompassed a new clay preparation area, an additional brick making machine, extending drier capacity and the erection of a new ‘clamp’ for firing the bricks. The…