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[Sep 2005]
Yet More Wienerberger Expansion Plans - Now Poland
Wienerberger AG (Vienna, Austria) - the world's largest producer of bricks and Europe's second largest roofing system group, has concluded an agreement in principle with Ploegsteert International SA and Vandersanden Steenfabrieken NV for the purchase of the Cermegad and Zeslawice hollow brick plants in Poland.
Both facilities are located in Krakow, southern Poland, and they generated combined revenues of 7.4 million with a total capacity of 130 million standard size bricks in 2004. The transaction will be formally completed after approval is received by the cartel authorities, which is expected later this year.
Poland remains an important growth market for Wienerberger, even though weaker economic development during the first half of 2005 led to declines in the construction of single family houses. However, the long-term trend promises an increase due to the current low level of residential construction.
"Poland still has a high potential for growth because housing starts per 1,000 residents are almost 50% below the level in Western Europe," explained member of the Managing Board, Johann Windisch. "The acquisition of these two plants in Krakow will further extend our broad-based presence, and also allow us to meet the demand for our high-quality Porotherm hollow bricks throughout Poland from local production facilities."
www.wienerberger.com
ENDS