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Wienerberger AG: Steinzeug plans takeover of EuroCeramic
Vienna
(pta015/25.05.2011/11:00 UTC+2)
Steinzeug files takeover offer for Wavin subsidiary EuroCeramic
- EuroCeramic is a leading supplier of ceramic pipe systems
- Transaction significantly improves Steinzeug's competitive position
Steinzeug Abwassersysteme GmbH, a leading international producer of ceramic pipe systems and a subsidiary of Wienerberger AG, today announced the planned takeover of the Dutch-German EuroCeramic. EuroCeramic operates one plant in the Netherlands and generated revenues of approx. 21 million Euro with roughly 100 employees in 2010. The parties have agreed not to disclose any information on the price for this transaction. This takeover is subject to the approval of the responsible antitrust authorities as well as advice of the Dutch Works Council in accordance with Dutch law.
Steinzeug will significantly expand its market position with this transaction
Heimo Scheuch, CEO of Wienerberger AG, explained the strategic background for this transaction: "The acquisition represents an important step in the expansion of our market position. We have now created a strong basis for further growth in the area of ceramic pipe systems." Ceramic pipes for waste water disposal are a high-quality niche product with outstanding material properties that include compressive strength, density and hardness combined with high abrasion and corrosion resistance and an unusually long service life. There is significant need for replacement and repairs in many West European markets, while large parts of Eastern Europe must first be developed. The connection rate in these countries is, in part, substantially below the European average. Here there is enormous pent-up demand - a gap that not only the involved countries but also the European Union wants to close over the coming years through subsidy programs. Gernot Schöbitz, Managing Director of Steinzeug, explained in conclusion: "The integration of these two companies will give us a highly effective organization for the European market that will allow us to optimally develop the available opportunities."
Steinzeug is a 100% subsidiary of Wienerberger
Steinzeug Abwassersysteme GmbH is a wholly owned subsidiary of Wienerberger. The company operates two plants in Germany - in Bad Schmiedeberg and in Frechen near Cologne as well as one plant in Hasselt, Belgium, for a combined annual capacity of 170,000 tons. With roughly 400 employees, Steinzeug recorded revenues of approx. 70 million Euro in 2010.
Wienerberger is the world's largest producer of bricks
Wienerberger is the world's largest producer of bricks and the market leader for clay roof tiles in Europe and concrete pavers in Central-East Europe. With a total of 245 plants, Wienerberger generated revenues of 1,744.8 million Euro during the past year.
For additional information contact:
Gernot Schöbitz, Managing Director of Steinzeug Abwassersysteme GmbH
T +49 2234 507-0 | info@steinzeug.com
Barbara Braunöck, Head of Investor Relations Wienerberger
T +43 1 601 92-471 | communication@wienerberger.com
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Emitter: |
Wienerberger AG Wienerbergstraße 11 1100 Wien Austria |
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Contact Person: | Barbara Braunöck | |
Phone: | +43 1 60192-471 | |
E-Mail: | communication@wienerberger.com | |
Website: | www.wienerberger.com | |
ISIN(s): | AT0000831706 (Share) | |
Stock Exchange(s): | Vienna Stock Exchange (Official Trade) |