Wienerberger raises stake in Tondach Gleinstätten

On 1 February 2011 Wienerberger AG announced the acquisition of a further 25-% stake in Tondach Gleinstätten as part of a stock swap with the joint venture partner Monier.

Wienerberger and Monier previously held common investments in the roofing tile business through two joint ventures focused on Eastern Europe. Each of the two groups held 50% of the shares in Bramac (concrete roof tiles) as well as a 25% stake in Tondach Gleinstätten AG (clay roof tiles). An agreement was signed, subject to the approval of the responsible anti-trust authorities, whereby Monier will take over Wienerberger’s holding in the concrete roof tile business, while Wienerberger will receive the stake of Tondach plus a cash settlement of € 40 mill. After the approval of this transaction by the anti-trust authorities, Wienerberger will hold a 50-% stake in Tondach Gleinstätten AG (the remaining 50% of the shares are family-owned) and Monier will own 100% of Bramac.

 

Tondach Gleinstätten: excellent position in clay roofing tiles in Eastern Europe

Tondach Gleinstätten has been expanding in Eastern Europe since 1992 and now holds an excellent position on the clay roofing tile market in Central and Eastern Europe with 20 plants in 11 countries. In 2009 the company generated revenues of approx. € 200 mill. with 2 666 employees. Tondach has a strong established reputation for high-quality, innovative products. In recent years the company has made substantial investments to upgrade and expand its production sites and now has a network of modern plants with state-of-the-art equipment.

Asked about the opportunities in this region the CEO of Wienerberger AG, Heimo Scheuch, was optimistic: “I see significant mid-term potential in these countries, above all because of the pent-up demand for new construction and renovation – and we intend to develop this potential together. There is a clear-cut quality orientation in Eastern Europe and I see Tondach, with its proven quality, innovative products and modern production technology, as the perfect partner for our strategy in this region.”




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