Michelmersh Brick Holdings Plc
("MBH" or the "Group")
Completion of Freshfield Lane Expansion
Brick capacity increase bolsters production capability to 36 million bricks per annum at the Group's largest plant
Michelmersh Brick Holdings Plc (AIM: MBH), the specialist brick manufacturer and landfill company, today reports the successful completion of an expansion project ("Project") to increase manufacturing capacity by 6 million bricks at its Sussex-based Freshfield Lane brickworks.
The £2.2 million expansion project at Freshfield Lane brickworks extends capacity at the plant by 20 per cent.. The Company is pleased to announce that this Project has been completed within budget and on schedule and the plant now has a capability of producing 36 million bricks per annum. 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 Project, which took a year to complete, was managed internally and utilised the Group's engineering team. The additional output arrives at a time of current brick shortages in the UK and increasing prices, and has been achieved with no increase to the overhead base.
The Board can confirm that trading across the Group has been strong in this early part of the year. The Group's Final Results for the year ended 31 December 2014 will be released on 23 March 2015.
Martin Warner, CEO, commented: "The Group continues to perform well and we are pleased to have achieved this expansion within budget and on schedule and look forward to seeing the benefits come into fruition for MBH going forward."
Enquiries:
Michelmersh Brick Holdings Martin Warner, CEO Stephen Morgan, Finance Director |
01825 430413 |
Cenkos Securities plc Bobbie Hilliam (NOMAD) Harry Pardoe Oliver Baxendale (Sales) |
020 7397 8900 |
Yellow Jersey PR Dominic Barretto Kelsey Traynor |
07768 537 739 07799 003 220 |
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Further information on the Company can be found at www.mbhplc.co.uk. |
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