Wienerberger AG

M&A Activity • Oct 20, 1998

News Details

Ad-hoc | 20 October 1998 16:04

Ad hoc-Service: Wienerberger Baustoffind. PR-INFO

—————————————————————— Ad hoc-Service: Wienerberger Baustoffind. PR-INFO Ad hoc-announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. —————————————————————————— Wienerberger Baustoffindustrie AG (Wienerberger), acquisition of 29.8 % of Ibstock plc. (Ibstock) Wienerberger announces that it has agreed to acquire a 29,8 % interest in Ibstock from Brierley Investments Limited at a price of 66 pence per ordinary share. This amounts to a total investment of £ 91.5 million (ATS 1.8 billion). Wienerberger, based in Vienna and quoted on the Vienna Stock Exchange, is the largest producer of bricks in Europe and has leading positions in pipes. The group runs 166 plants in 23 countries. In 1997, the group realised a consolidated turnover of ATS 15.3 billion (£ 789 million) and operating profit of ATS 2.3 billion (£ 120 million). Ibstock, which is listed on the London Stock Exchange, is one of the two leading producers of facing bricks in the UK with a market share of some 30 %. It also has a significant presence in the US facing brick market. The group has some 40 plants in the UK and the US. In 1997 consolidated turnover amounted to £ 321 million (ATS 6.2 billion) with operating profit of £ 31 million (ATS 603 million). For Wienerberger, this investment is a very important move forward in the consistent implementation of its strategy. The clear focus on the core business of bricks and pipes enabled Wienerberger to build leading positions in Europe. Having integrated the Sturm Group (acquired in 1995) and Terca Bricks, the leading facing brick producer in Continental Europe (in 1996), Wienerberger is now entering the UK and the US market. At the same time, non-core business activities, like the Treibacher abrasive business and the Business Park Vienna real estate project, have been sold. Mr. Schaschl, Chief Executive Officer of Wienerberger, said today, We are delighted to acquire this substantial interest in Ibstock. The investment is fully in line with our long-term strategy. We see the investment as a logical geographical extension to Wienerbergers core business, which has grown rapidly in recent years, mainly in Central and Eastern Europe. We would like to work together with the management of Ibstock in the future. ABN Amro Corporate Finance Limited has advised Wienerberger in connection with this investment. Wienerberger Baustoffindustrie AG The Managing Board Vienna, October 20th, 1998 Wienerberger Erhard Schaschl, ++43/1/60192/410 Chief Executive Officer Gerhard Bachmaier, ++43/1/60192/419 Corporate Communications ABN AMRO Hugo Robson Philip Evans Orla Dargan ++44/171/374/1000 End of Message