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- Pipelife reinforces product portfolio in fast-growing market - Acquisition of Instaplast broadens geographical scope in Eastern Europe
Vienna, June 27, 2008 - Pipelife, one the leading producers of plastic pipe systems, acquires Instaplast Praha a.s. in Czech Republic. Instaplast is headquartered in Prague, Czech Republic. The company is specialized in premium hot and cold plastic pipe systems for Eastern Europe, which is a very fast growing market segment. Apart from the Czech Republic, the company is supplying its systems to Bulgaria, Russia and the Ukraine. In 2007 Instaplast Praha a.s. had 94 employees which accounted for a turnover of approximately € 11 million. The parties have agreed not to disclose any information on the purchase price for this transaction. The contract is subject to any possible approvals to be rendered by public authorities. Pipelife is a 50/50 joint venture of Wienerberger with Solvay.
Development of Pipelife's position in Eastern Europe The CEO of the group, Miguel Kohlmann, explained: "This acquisition will further develop Pipelife's leading market position in Eastern Europe. Through Instaplast's high quality and competitive product range, Pipelife will further complete its product offering, especially in one of the fastest growing market segments, which are hot and cold water applications. Our customers will strongly benefit from this acquisition."
Strategic acquisition with potential for synergies Willy Van Riet, Chief Financial Officer of Wienerberger AG and member of the Board of Directors of Pipelife, adds: "We are content of the positive development of the Pipelife Group in recent years. The acquisition of Instaplast is an opportunity to increase synergies and marks a further important step to strengthen Pipelife's position in Central and Eastern Europe."
Pipelife: 50/50 joint venture of Wienerberger and Solvay The Pipelife Group is a 50/50 JV between Wienerberger and Solvay. It is one of Europe's leading Plastic Pipes and Fittings groups. It is now active in 29 countries and operates 30 factories with 2,900 employees achieving sales totalling € 876 million in 2007. Pipelife is consolidated by Wienerberger Group at equity.
Wienerberger - the world's largest producer of bricks Wienerberger is the world's largest producer of bricks and Nr. 2 on the clay roof market in Europe. It also holds leading positions in pavers in Europe, with a total of 260 plants in 26 countries. In 2007 Wienerberger Group achieved revenue of € 2,477.3 million and EBITDA of € 551.2 million.
For additional information contact: Karin Hofmann, Public Relations T +43(1)60192-463 | communication@wienerberger.com
Miguel Kohlmann, CEO Pipelife T +43(2236)43939-12 | miguel.kohlmann@pipelife.com
Download the Press Release from: www.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;
