- Pipelife reinforces product Portfolio in fast-growing market - Acquisition of Quality Plastics broadens geographical scope
Vienna, April 2, 2007 - Wienerberger announces today that Pipelife, its 50/50 joint venture with Solvay, has acquired Ireland's Quality Plastics, a leading manufacturer of specialty pipes and fittings with a strong focus on so-called "Hot & Cold" applications. The parties have agreed not to disclose any information on the purchase price for this transaction.
Hot & Cold applications - fast growing segment Hot & Cold water systems for plumbing are sophisticated products which makes them suitable for the replacement of metal applications in new constructions and renovations, while ensuring a high level of safety and effortless installation. They are the fastest-growing segment of the pipes and fittings market in Europe. Quality Plastics know-how in Hot & Cold applications will serve as a base for expansion in other Pipelife Countries throughout Europe.
Quality Plastics with ¤ 42 million sales and 174 employees Quality Plastics produces and sells plastic pipes, including a wide range of fittings and accessories. It operates two factories near Cork in Ireland achieving sales of EUR 42 million with 174 employees in the latest business year. Quality Plastics is also present in the United Kingdom through an outlet and sales organization and exports its products to several countries in Europe.
Quality Plastics perfect complement for Pipelife Miguel Kohlmann, the CEO of Pipelife commented on the acquisition: "Quality Plastics is a perfect complement for the Pipelife Group. It will reinforce one of Pipelife's fastest growing product lines which is Hot & Cold in addition to giving the group access to the Irish and UK markets".
European expansion of Hot & Cold water systems Willy Van Riet, CFO of Wienerberger AG and member of the Board of Directors of Pipelife, adds: "The acquisition of Quality Plastics is an opportunity to increase synergies and marks a further important step within Pipelife's European product expansion strategy".
The Pipelife Group is a 50/50 joint venture between Wienerberger of Austria and Solvay. It is one of the world's leading Plastic Pipes and Fittings groups. It is now active in 29 countries and operates in 30 factories with 2,800 employees achieving sales totaling EUR 784 million and an EBITDA of EUR 80.2 million in 2006. Pipelife is consolidated by Wienerberger Group at equity.
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 259 plants in 25 countries. In 2006 Wienerberger Group achieved revenue of EUR 2,225.0 million and EBITDA of EUR 471.9 million.
Download the press release from: www.wienerberger.com
For additional information contact: Karin Hofmann, Public Relations Wienerberger T +43(1)60192-484 | [email protected]
Miguel Kohlmann, CEO Pipelife T +43(2236)43939-12 | [email protected]
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