Wienerberger AG

M&A Activity • Dec 1, 1998

News Details

Ad-hoc | 1 December 1998 08:35

Ad hoc-Service: Wienerberger Baustoffind. pipelife

—————————————————————— Ad hoc-Service: Wienerberger Baustoffind. pipelife Ad hoc-announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. —————————————————————————— PIPELIFE GROUP SIGNS PURCHASE AGREEMENT TO ACQUIRE THE NORWEGIAN MABO GROUP Today, NORSK HYDRO, SOLVAY and WIENERBERGER have signed the purchase agreement for the acquisition by PIPELIFE of 100 % of the MABO GROUP, fully owned by the Norwegian company Norsk Hydro since 1993. PIPELIFE, a 50/50 joint venture of WIENERBERGER and SOLVAY, is one of the three main European producers of plastics pipes and fittings. PIPELIFE operates with 1,900 employees, 22 plants in 17 countries and achieved in 1997 a turnover of ATS 5.6 billion (USD 450 mill. or EURO 383 mill.). MABO, is one of the Nordic countries leading manufacturers of plastics pipe systems and is also successfully active in Poland and the Baltic States. Its extended product range, specially in polyethylene and polyprophylene pipes, as well as its geographic positions make of MABO an ideal partner to complement the activities of PIPELIFE. MABO will now benefit from the resources and expertise of the Pipelife group. In 1997, MABO employed 652 people in 10 plants located in 5 countries. The turnover in 1997 exceeded NOK 800 mill. (USD 115 mill. or EURO 98 mill.). The purchase agreement is subject to the approval of the relevant corporate bodies of each of the signatories, as well as of the relevant competition authorities. It will be effective upon reception of all required approvals, which is expected to happen before the end of the first quarter of 1999. NORSK HYDRO is a public company listed on the Oslo Stock Exchange. With a local presence in more than 100 countries, Norsk Hydro is a leader in the global fertilizer market but also active in hydro energy, metal production, oil & gas business and industrial chemicals. In 1997, NORSK HYDRO employed about 39,000 people and achieved a turnover of NOK 96 billion (USD 13.6 billion). WIENERBERGER is a leading building material producer, based in Vienna/Austria, with 167 plants in 23 countries in and outside of Europe and a turnover of ATS 15 billion (USD 1.2 billion). The corporate strategy focuses clearly on bricks and pipes. SOLVAY is an international chemical and pharmaceutical Group, based in Brussels/Belgium, active in 46 countries, employing over 34,000 people and a turnover of BEF 311 billion (USD 8.4 billion) in 1997, generated in 4 sectors of activity: Chemicals, Plastics, Processing and Pharmaceutical. Vienna, 1998 12 01 Further information: Paul Tanos, President of Supervisory Board, Pipelife Group Phone ++43 1 601 92-431 Gerhard Bachmaier, Wienerberger Baustoffindustrie AG Corporate Communications, Investor Relations Phone ++43 1 601 92 – 419 End of Message