Forterra, the Northampton-based building products manufacturer, has recently floated on the London Stock Exchange following steady growth in the UK’s homebuilding industry.
The firm, which has its head office at Grange Park in Northampton, is reported to be the UK’s second largest manufacturer of bricks and aircrete blocks and employs more than 1,600 people at 18 sites across the country. To mark the official entry of Forterra plc on the London Stock Exchange, several senior representatives of the company attended an event on the trading floor in the capital.
Stephen Harrison, UK Managing Director of Forterra, said: “We are delighted to mark our entry to the London Stock Exchange, and are excited to welcome our new shareholders as we look forward to the next phase of our development as a FTSE listed company.”
Approximately 95% of the company’s revenue comes from the UK’s residential market, with the remaining 5% attributed to commercial construction. Conservative estimates predict demand for bricks in the UK will increase at a rate of more than 5% per year as the homebuilding sector continues to grow in response to the country’s increasing population.
“The fundamentals of our industry are attractive,” continued Stephen, “and with our efficient manufacturing base, strong positions across all product categories, long-standing customer relationships, and significant scope for future capacity expansion, we are very well placed for the future.”
Forterra is the only manufacturer of the iconic Fletton brick, sold under the London Brick brand, which were used in the original construction of nearly a quarter of England’s existing housing stock, and the firm also owns the Thermalite brand of aircrete blocks.