Strike Action Against Brickworks Provides CSR With Near-Term Upside Potential; FVEs Unchanged
Ongoing negotiations between no-moat Brickworks and the Construction Forestry Maritime Mining and Energy Union, or CFMMEU, have resulted in brick production employees threatening strike action. The strike is scheduled to commence on Sept 13, 2018 for an undefined period and currently involves just two of Brickworks’ nine brick plants taking part. The two plants affected are located in New South Wales, or NSW, while the remaining operating plants should allow Brickworks to put in place strategies...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.
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