Ad-hoc | 21 June 1999 08:00
Ad hoc-Service: Wienerberger Baustoffind.
WBI
Ad hoc-announcement sent by DGAP.
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Wienerberger US $ 260 m Brick Acquisition in the US
– Wienerberger agrees to acquire leading US brick
manufacturer General Shale for US $ 260 m from Etex/Marley Group
– General Shale, with headquarters in Tennessee, runs 25
plants in eight states which account for approximately 12 %
market share and the second largest market position in the US
market
– A decisive step in strengthening the leading Nr. 1 brick
position worldwide
– Platform for further development in the US building market
established
Wienerberger Baustoffindustrie AG announces that it has signed a
definitive agreement to acquire General Shale LLC, the US
brick operations of Etex/Marley Group, for US$ 260 million debt
free. The transaction is subject to regulatory approvals and is
expected to close in July 1999.
General Shale is the second largest manufacturer of facing
bricks in the United States with approximately 12 % market share.
The company’s manufacturing facilities are located in two key
regions, the Southeast and Midwest. General Shale operates 25
plants in eight states. Of these, 18 produce brick, five concrete
block, one aggregates, and another one sand. The company has
historically maintained a high level of capital expenditure.
Therefore, technology and product quality are of highest
standards. The company is headquartered in Johnson City,
Tennessee.
In the latest twelve months, ended March 31, 1999, General Shale
reached sales of US$ 163.7 million, EBITDA of US$ 37.9 million
and EBIT of US$ 26.2 million. In 1998, General Shale had
capacity of approximately 1.1 billion SBEs, standard brick
equivalents. The company employs 1.437 people.
Wienerberger is the worldwide leading producer of bricks and also
has leading positions in the pipe business. The acquisition marks
the Company’s entry into the US market, which due toits
favourable demographic trends is expected to remain one of the
strong growing markets in the world. Wienerberger believes that
its expertise in the brick industry, combined with General
Shale’s high quality management team and efficient production
facilities will enable Wienerberger to grow this business both
organically and by acquisitions.
Wienerberger Baustoffindustrie AG, The Managing Board
Vienna, June 21st, 1999
For inquiries please contact:
Wienerberger Baustoffindustrie AG
Erhard Schaschl, CEO, +43/1/60192/410
Wolfgang Reithofer, Deputy Chairman,
+43/1/60192/440 Investor Relations: Gerhard
Bachmaier, +43/1/60192/419,
investor@wienerberger.com,
www.wienerberger.com
Salomon Smith Barney
Brad Balow +1/212/783/1824, Matthew Ponsonby
+44/171/721/4404
End of Message