EANS-News: Wienerberger broadens its position as a full-range system provider in the UK and Ireland
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Corporate news transmitted by euro adhoc with the aim of a Europe-wide
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Mergers - Acquisitions - Takeovers
Vienna -
* Acquisition of FloPlast and Cork Plastics in line with Wienerberger's growth
strategy complements the Group's position in the highly attractive renovation
sector
* Wienerberger accelerates its transformation into a full-range system provider
by combining its extensive roof portfolio with FloPlast's complementary
roofline, rainwater and drainage solutions
* Wienerberger strengthens its commitment to investing in water management as
part of its ESG strategy by integrating and combining technologies that enable
smart managed stormwater solutions
Wienerberger announces today that it has acquired 100% of the shares in FloPlast
in the UK and Cork Plastics in Ireland. The companies employ 370 people in three
locations and are generating revenues of approx. EUR 100 million. Both companies
are active in the Irish and British residential renovation sector with their
product portfolio that is focused on rainwater, roofline and drainage products.
The acquisition will further broaden Wienerberger's product portfolio and allows
Wienerberger to become a full system provider for managed grey and storm water
solutions in the residential sector. This is in line with its ambitious ESG
strategy, supports the EU Green Deal 2050 and provides sustainable and care-free
living for generations.
FloPlast is a key player in the fast-growing sectors for renovation, maintenance
and improvement (RMI). FloPlast's product portfolio and service offerings are
highly complementary to Wienerberger's own offerings in the British market. At
the same time, the combined product portfolio will provide increased cross-
selling opportunities in the new build private and public housing sector, in
which Wienerberger commands a leading position in the UK.
Heimo Scheuch, Chairman of the Managing Board of Wienerberger AG: "FloPlast and
Cork Plastics are excellent businesses that have a strong focus and experience
in the RMI segment. They have a great product portfolio and highly experienced
colleagues who will make sure to further grow our market position in the UK and
Ireland. Whilst we see ample opportunity in the RMI segment, we are confident
that our strong and established client relationships with the UK home builders
will help us to unlock additional growth potential in the new build segment."
By acquiring FloPlast and Cork Plastics, Wienerberger has succeeded in combining
the Group's complementary portfolio of building and piping solutions, thus
increasing the value through providing a unique platform for system integration
and the development of all-in solutions, which in turn promotes sustainable
growth at Group level through improved market penetration and synergy effects.
Wienerberger is thus reacting to changing customer requirements for convenient,
innovative and prefabricated design solutions. In particular, Wienerberger is in
a position to provide smart inhouse water solutions and roof systems
complemented by rainwater collection, drainage and soil as well as wastewater
applications. These systems are well designed, sustainable, affordable, and last
for generations.
Heimo Scheuch adds: "This acquisition nicely demonstrates our ambition in
growing our position in the market for managed solutions for storm and rainwater
management. We can now provide a product portfolio that spans from water
collection and transport to retention and filtration. By linking this portfolio
to the design and smart capabilities of our recent acquisitions of BPD and
InterAct, we can truly offer managed solutions and differentiate ourselves
further from our competitors."
In addition, the right solutions to face the challenges of current megatrends on
our eco-system are offered: Climate change and the resulting unforeseeable
weather conditions, population growth and the associated rising demand for
housing as well as clean water and advancing urbanization with its increasing
stress on water management systems. The British government's decarbonization
agenda provides for amendments to building regulations, which call for solutions
offered by Wienerberger as a full-range system provider for both renovation and
new build.
Within the framework of its own ESG strategy, Wienerberger intends to contribute
to the achievement of the net zero greenhouse gas emission targets of the
European Green Deal for 2050. The company therefore undertakes to focus on water
as a priority of the Wienerberger Strategy 2023 and to continue investing in
sustainable and innovative solutions. FloPlast and Cork Plastics will contribute
their expertise as full-range providers of rainwater and wastewater systems
("from rain to drain"). Wienerberger will thus be able to provide the
construction industry with tailor-made system solutions designed to diminish the
stress on water treatment facilities, use water sustainably, and help to reduce
operating costs.
About FloPlast and Cork Plastics
FloPlast was established in 1991 and is headquartered in Sittingbourne, UK.
FloPlast is a specialist manufacturer and supplier of plastic rainwater,
drainage and plumbing systems primarily focused on the RMI sector. The company
specializes in roofline products with an extensive range of rainwater systems
and PVC-UE cellular foam fascia, soffit & cladding systems that provide
maintenance-free solutions to domestic and commercial buildings. In addition,
FloPlast has developed a range of waste, soil, underground drainage and hot &
cold plumbing systems. The company sells its product portfolio to a broad range
of leading merchants and retailers, with whom it has strong longstanding
relationships. FloPlast operates as the main distribution channel for Cork
Plastics extruded products in the UK.
Cork Plastics was established in 1969 and is headquartered in Cork, Ireland.
Cork Plastics is a diversified manufacturer and supplier of plastic rainwater,
drainage and plumbing products for the residential construction, agricultural
and utilities sectors. Its product range is supplied throughout Ireland and the
UK, and the company has also expanded its customer base into Europe, notably
France and Germany.
The parties to the transaction agreed not to disclose the purchase price.
Wienerberger Group
The Wienerberger Group is a leading international provider of smart solutions
for the entire building envelope and for infrastructure. Wienerberger is the
world's largest producer of bricks (Porotherm, Terca) and the market leader in
clay roof tiles (Koramic, Tondach) in Europe as well as concrete pavers
(Semmelrock) in Eastern Europe. In pipe systems (Steinzeug-Keramo ceramic pipes
and Pipelife plastic pipes), the company is one of the leading suppliers in
Europe. With its total of 197 production sites, the Wienerberger Group generated
revenues of EUR 3.4 billion and EBITDA LFL of EUR 566 million in 2020.
Further inquiry note:
Claudia Hajdinyak, Head of Corporate Communications Wienerberger AG
t +43 664 828 31 83 | claudia.hajdinyak@wienerberger.com
Elisabeth Falkner, Head of Investor Relations Wienerberger AG
t +43 1 601 92 - 10221 | investor@wienerberger.com
end of announcement euro adhoc
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issuer: Wienerberger AG
Wienerbergerplatz 1
A-1100 Wien
phone: +43 1 60 192-0
FAX: +43 1 60 192-10159
mail: office@wienerberger.com
WWW: www.wienerberger.com
ISIN: AT0000831706, AT0000A2GLA0
indexes: ATX
stockmarkets: Wien
language: English