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[June 2006]
Wienerberger Acquires Facing Brick Plants in Germany
Wienerberger AG (Vienna, Austria) is continuing to pursue its growth course with the conclusion of an agreement between its German subsidiary Wienerberger Ziegelindustrie GmbH and Friedrich Knabe Kirchkimmen Ziegelei GmbH & Co KG for the purchase of that company’s facing brick plants in Hude near Bremen as of 1 July 2006 through an asset deal.Knabe and its brand are well positioned in the facing brick market in Germany. This transaction represents a further expansion step for Wienerberger in the facing brick segment. "Knabe will strengthen our plant network and improve our presence on regional markets. In addition, we will be able to utilize the long-standing experience of the Knabe team in the pre-sales business. The continuation of the Knabe brand will help us to expand our market position and also develop new segments of business," commented Heimo Scheuch, COO of Wienerberger AG, on the acquisition. The parties have agreed not to reveal any information on the purchase price for the transaction.
Knabe Klinkerwerke was founded in 1918 and generated revenues of about €14 million in 2005 with 85 employees. The company produces high quality facing bricks and clinkers in its facilities at Kirchkimmen/Hude, northwest of Bremen. The increasingly difficult market situation for mid-sized companies led the owners, the Ahlers family, to search for a strong partner. They will, however, maintain their connection with the company in the future. The closing of this transaction is subject to approval by the German cartel authorities.
The acquisition of Knabe is reported to be part of the profitable Wienerberger growth strategy, which is designed to develop projects for a total of at least €250 million in 2006.
www.wienerberger.com
ENDS