Wienerberger Completes Acquisition of Croatian Plant (posted 12/8/08)
“The market environment in Croatia is becoming more difficult in the wake of the international financial crisis,” said Johann Windisch, the member of the Wienerberger managing board who has responsibility for Central-East Europe and North America. “However, brick products are the dominating building material for walls in this country, with a share of more than 85%, and the local residential construction market has shown sound development in recent years. We expect this trend will continue over the mid-term, above all as a result of Croatia's upcoming accession to the EU. In addition, we are now successfully exporting our products to the neighboring Bosnia-Herzegovina from Croatia. We are therefore optimistic that the 100% integration of Petrinja into our Croatian company will allow us to realize positive synergies.”
Wienerberger’s website is located at www.wienerberger.com.