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Wienerberger AG (WBAG:WIE) Corporate news announcement processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- --------------
- Acquisition of the remaining shares in IGM Ciglana d.o.o. Petrinja
Vienna, December 4, 2008 - Wienerberger AG, the world's largest producer of bricks and the number two in clay roof tiles in Europe, has completed the takeover of the Petrinja clay block plant with the acquisition of the remaining 75% stake in this company as of December 1, 2008. Together with the 25% investment that was purchased seven months ago, this location 50 km south of Zagreb is now owned entirely by the Wienerberger Group. The plant has a production capacity of 110 million NF (= standard format for bricks) and generated revenues of approx. € 7.5 million in 2007. The parties have agreed not to reveal any information on the price for this transaction.
Synergies through 100% integration "The market environment in Croatia is also becoming more difficult in the wake of the international financial crisis. However, brick products are the dominating building material for walls in this country with a share of more than 85% and the local residential construction market has shown sound development in recent years. We expect this trend will continue over the mid-term, above all as a result of Croatia's upcoming accession to the EU. In addition, we are now successfully exporting our products to the neighboring Bosnia-Herzegovina from Croatia. We are therefore optimistic that the 100% integration of Petrinja into our Croatian company will allow us to realize positive synergies", explained Johann Windisch, member of the Managing Board of Wienerberger AG with responsibility for Central-East Europe and North America.
For additional information contact: Karin Hofmann, Public Relations T +43(1)60192-463 | communication@wienerberger.com If you do not wish to receive the Wienerberger newsletter any longer, send an e-mail with subject: "unsubscribe newsletter" to communication@wienerberger.com
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Wienerberger AG Wienerbergstraße 11 Vienna Austria
WKN: 83170; ISIN: AT0000831706; Index: WBI, ATX , ATX Prime; Listed: Prime Market in Wiener Boerse AG;