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Forterra Highlights Plans to Float on London Stock Exchange

Brick_pile

Forterra, the UK’s leading producer of manufactured masonry products, as well as a frontrunner in the manufacture of clay bricks, has recently announced a plan to float on the stock exchange.

Expected to float within some four weeks’ time, Forterra has laid out plans to submit an application for ordinary shares in the company to be listed in the premium section of the Official List of the FCA as well as to trading on the London Stock Exchange’s main market in the section of listed securities.

Credited with bringing the company back into the production of a previously-mothballed capacity sitting at a total of 50m bricks per year, Forterra has seemingly turned the tides, and has also seen the increased capacity for production at its Measham site by some 19m bricks per year. In fact, the past few years have seen a great degree of investment into its production facilities, not solely from a capacity perspective, but also from that of improving the efficiencies of production at a number, including improvements made at the sites in Hoveringham, Hams Hall, Accrington, and the aforementioned site at Measham.

Claiming to be the only UK manufacturer to offer a significant range of concrete blocks and clay bricks, Forterra offers a vast range of products under its own brand identity, as well as Fletton brick under the brand of the London Brick. Referred to as one of the leading producer of building materials, specifically in the UK, Stephen Harrison, Chief Executive of Forterra explained: “The fundamentals of our industry are attractive.” Then highlighting how the company has the base in place from which the company can operate onto and into the future, he also went on to comment: “Listing as a business is the next step in realising the significant potential that we see for Forterra.”

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BDC 299 December 2022