Wienerberger Closes Takeover of Pipelife
Wienerberger AG recently announced it has closed its takeover of Pipelife, a leading producer of plastic pipe systems in Europe. Wienerberger received unqualified approval from the antitrust authorities in the EU, Turkey and Russia for the full takeover of Pipelife. Pipelife was expected to be consolidated as of June 1; together with Steinzeug-Keramo, the company’s specialist for ceramic pipes, and Semmelrock, a leading supplier of concrete pavers in Central-East Europe, it will be reported under the newly created Pipe and Paver Systems operating segment.
In addition to an increase of roughly one-third in revenues and more than 20% in EBITDA, the Pipelife acquisition marks a milestone in the planned expansion of Wienerberger’s core business. This transaction will reportedly not only make Wienerberger one of the leading suppliers of plastic pipes in Europe, but can also reduce the company’s dependency on cyclical new residential construction from 70% (based on revenues) to 60% and strengthen the company’s position in the renovation and infrastructure segments.
For additional information, visit www.wienerberger.com.