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
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.”