SOLVAY COMPLETES THE SALE TO WIENERBERGER OF ITS STAKE IN PIPELIFE
(Thomson Reuters ONE) -
Embargo : Brussels, May 25, 2012, at 9am
SOLVAY COMPLETES THE SALE TO WIENERBERGER OF ITS STAKE IN PIPELIFE
Solvay and Wienerberger completed today the sale of Solvay's 50% stake in
Pipelife, one of the world's leading suppliers of plastic pipe systems, to
Wienerberger.
For Solvay the deal represents an Enterprise Value of about EUR 257 million for
its 50% stake when taking into account assumption of liabilities, including
pensions and other debt-like items, for about EUR 85 million.
Solvay received in total EUR 172 million in cash for the shares including a
special dividend of EUR 10 million.
Pipelife is one of the world's leading suppliers of plastic pipe systems. With
29 production plants and headquartered in Vienna, Austria, the company employs
about 2.600 employees in 27 countries and realized about EUR 800 million in
sales in 2011.
Wienerberger is the world's largest brick producer (Porotherm, Poroton, Terca)
as well as the market leader for clay roof tiles (Koramic, Tondach) in Europe
and for concrete pavers (Semmelrock) in Central-East Europe. In pipe systems
(Steinzeug-Keramo ceramic pipes and Pipelife plastic pipes), the company is one
of the leading suppliers in Europe. With a network of 232 plants, Wienerberger
generated revenues of EUR 1,555 million and operating EBITDA of EUR 214 million
in the first nine months of 2011.
Solvay is an international chemical Group committed to sustainable development
with a clear focus on innovation and operational excellence. It generates over
90% of its sales in markets where it is among the top three leaders. Solvay
offers a broad range of products that contribute to improving the quality of
life and the performance of its customers in markets such as consumer goods,
construction, automotive, energy, water and environment, and electronics. The
Group is headquartered in Brussels, employs about 29,000 people in 55 countries
and generated EUR 12.7 billion in net sales in 2011. Solvay SA (SOLB.BE) is
listed on NYSE Euronext in Brussels and Paris (Bloomberg: SOLB.BB - Reuters:
SOLBt.BR).
For further details, please contact:
LAMIA NARCISSE ERIK DE LEYE MARIA ALCON-HIDALGO PATRICK VERELST
Media Relations Media Relations Investor Relations Investor Relations
+33 1 53 56 59 62 +32 2 264 1530 +33 1 53 56 64 89 +32 2 264 1540
Press Release:
http://hugin.info/133981/R/1614828/514628.pdf
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Source: Solvay S.A. via Thomson Reuters ONE
[HUG#1614828]
Unternehmensinformation / Kurzprofil:
Datum: 25.05.2012 - 09:04 Uhr
Sprache: Deutsch
News-ID 150136
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