Morningstar | Building a more diversified business with bricks.
Brickworks is Australia's largest brick manufacturer. The building products division operates brick, paver, concrete masonry, and roofing tile facilities throughout the country. These are competitive product categories exposed to the residential construction cycle. Earnings from the building products division can be volatile. The sale and/or development of extensive land holdings, which are a legacy of primary brick-manufacturing activities, will supplement earnings for at least the next decade, although timing makes contributions unpredictable. Similarly, the major investment in Washington H. Soul Pattinson provides noncyclical earnings diversification for the building products operations. Brickworks is a conservatively managed company controlled by the Millner family.Brickworks manufactures a range of building products throughout Australia, engages in development and investment activities, and participates in investments as an equity holder. Co. has business three segments: building products, which manufactures vitrified clay, concrete and timber products used in the building industry with product lines that include bricks, blocks, pavers, roof tiles, floor tiles, and timber products used in the building industry; property, which considers further opportunities to better utilize land owned by Co.; and investment, which holds investments in the Australian share market, and includes investment in Washington H. Soul Pattinson and Co. Ltd.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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