NEW YORK — Brick Factory, the manufacturer of the brick factory logo and the BrickFactory.com website, is planning to increase its brick production and packaging prices this year by about 30 percent, according to people familiar with the matter.
The company is planning additional increases in 2018, they said.
The brick factory was built in 1903 by the Italian brick factory company, Banca Baja di Padova, and is owned by the brick manufacturer company.
Banca Padova was purchased by Bancor, a private equity firm owned by billionaire industrialist and billionaire tech investor Mark Cuban, in 2014 for $20 billion.
BrickFactory.net, the Brick factory website, recently posted an article saying that its annual bricks production rose by almost 9 percent in 2018.
Bricks can be used in various applications, including decorative brickwork, decorative wall tiles, office furniture and furniture.
The average price for a 1-pound brick is $2.50.
The company said it plans to add additional bricks to its existing warehouses in order to reduce its shipping costs and increase its production capacity.
It also said that it plans on increasing its product line and will increase the number of brick factories nationwide.
Bridges, concrete and brick are among the products manufactured by BrickFactory, which is based in New Jersey.
It employs about 10,000 people in 14 countries, according a news release.