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Reuters

Australia's Boral to sell North American business, exit global brick operations

FILE PHOTO: The logo of Boral Ltd, adorns a wall in the foyer of their Sydney headquarters in Australia, November 21, 2016. REUTERS/David Gray

Boral Ltd said on Friday it would sell its North America-based Meridian Brick business to Austrian brick manufacturer Wienerberger for $250 million and exit from brick operations globally.

The Sydney-based building and construction materials company owns 50% of Meridian Brick, while the rest is managed by U.S.-based Lone Star.

(Reporting by Nikhil Subba in Bengaluru, Editing by Sherry Jacob-Phillips)

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