Wienerberger buys U.S.-based Columbus Brick

Austrian construction materials maker Wienerberger AG (WIE.VI) said Tuesday that it has agreed to buy U.S. brick manufacturer Columbus Brick Company in a move that will boost Wienerberger's North American growth strategy.

Neither company disclosed financial details of the transaction but Wienerberger said the deal would result in a positive contribution to its earnings.

Wienerberger said it would finance the takeover with funds allocated for growth and portfolio optimization.

Columbus Brick Company, which is based in Columbus, Mississippi, operates two brick plants in the state and sells its products to customers in more than 18 states. In 2016, the company generated revenues of roughly $23 million.

Source Marketwatch