Wienerberger AG

M&A Activity • Jun 21, 1999

News Details

Ad-hoc | 21 June 1999 08:00

Ad hoc-Service: Wienerberger Baustoffind. WBI

Ad hoc-announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. —————————————————————————— Wienerberger US $ 260 m Brick Acquisition in the US – Wienerberger agrees to acquire leading US brick manufacturer General Shale for US $ 260 m from Etex/Marley Group – General Shale, with headquarters in Tennessee, runs 25 plants in eight states which account for approximately 12 % market share and the second largest market position in the US market – A decisive step in strengthening the leading Nr. 1 brick position worldwide – Platform for further development in the US building market established Wienerberger Baustoffindustrie AG announces that it has signed a definitive agreement to acquire General Shale LLC, the US brick operations of Etex/Marley Group, for US$ 260 million debt free. The transaction is subject to regulatory approvals and is expected to close in July 1999. General Shale is the second largest manufacturer of facing bricks in the United States with approximately 12 % market share. The company’s manufacturing facilities are located in two key regions, the Southeast and Midwest. General Shale operates 25 plants in eight states. Of these, 18 produce brick, five concrete block, one aggregates, and another one sand. The company has historically maintained a high level of capital expenditure. Therefore, technology and product quality are of highest standards. The company is headquartered in Johnson City, Tennessee. In the latest twelve months, ended March 31, 1999, General Shale reached sales of US$ 163.7 million, EBITDA of US$ 37.9 million and EBIT of US$ 26.2 million. In 1998, General Shale had capacity of approximately 1.1 billion SBEs, standard brick equivalents. The company employs 1.437 people. Wienerberger is the worldwide leading producer of bricks and also has leading positions in the pipe business. The acquisition marks the Company’s entry into the US market, which due toits favourable demographic trends is expected to remain one of the strong growing markets in the world. Wienerberger believes that its expertise in the brick industry, combined with General Shale’s high quality management team and efficient production facilities will enable Wienerberger to grow this business both organically and by acquisitions. Wienerberger Baustoffindustrie AG, The Managing Board Vienna, June 21st, 1999 For inquiries please contact: Wienerberger Baustoffindustrie AG Erhard Schaschl, CEO, +43/1/60192/410 Wolfgang Reithofer, Deputy Chairman, +43/1/60192/440 Investor Relations: Gerhard Bachmaier, +43/1/60192/419, investor@wienerberger.com, www.wienerberger.com Salomon Smith Barney Brad Balow +1/212/783/1824, Matthew Ponsonby +44/171/721/4404 End of Message