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[January 2007]
Wienerberger Sells Stove Tile Business to German HAGOS
Wienerberger AG (Vienna, Austria) is strengthening its focus on bricks and roof tiles with the sale of the stove tile business. As of 1 January 2007 HAGOS Verbund deutscher Kachelofen- und Luftheizungsbauerbetriebe eG has acquired Wienerberger Ofenkachel GmbH & Co KG, whose headquarters are located in Walbersdorf, Austria.
This former Wienerberger subsidiary is a specialist for tiled stoves and in recent years has substantially expanded its traditional core business – the production and sale of ceramic stove tiles – as well as its retail activities in Austria and neighbouring countries. The company currently generates revenues of approximately €7 million with 32 employees.
"This step will allow Wienerberger to continue its concentration on the core business, and also create additional liquidity for our expansion. HAGOS, the new strategic owner, will bring new impulses to the stove tile business and provide added support for the production site in Walbersdorf," commented Johann Windisch, member of the Wienerberger Managing Board, on this transaction. The parties have agreed not to disclose any information on the purchase price.
www.wienerberger.com
ENDS