Wienerberger Plans Full Takeover of Semmelrock International
The purchase of the remaining 25% stake in Semmelrock International has been announced today. Wienerberger regards the acquisition as a “logical step”.
Wienerberger Plans Full Takeover of Semmelrock International / Picture: © Wienerberger
Wienerberger AG today announced the acquisition of the remaining 25% stake in Semmelrock International, the leading supplier of exclusive concrete pavers in Austria and Central and Eastern Europe. Wienerberger has held a 75% stake in the company since 1996, while the remaining shares are owned by private foundations which have now decided to sell their holdings. With plants in Austria, Slovakia, the Czech Republic, Hungary, Poland, Croatia, Romania and Bulgaria as well as sales organizations in Slovenia and Bosnia-Herzegovina, Semmelrock employs a workforce of over 1,000 people.
In 2009, the group generated revenues of € 125 million and EBITDA of € 18 million. The purchase price will involve € 7 million in cash and the transfer of one million Wienerberger shares from the treasury stock currently held by Wienerberger AG.
Heimo Scheuch, Chief Executive Officer of Wienerberger AG, explained this step: “The Semmelrock Group has shown sound development since our entry in the 1990s and is now one of the leading suppliers of premium concrete pavers in Austria and Eastern Europe. The company generated 7% of Wienerberger revenues in 2009 and, due to a higher share in the area of infrastructure and commercial construction as well as garden landscaping products, its development has been more stable than the brick and roof tile segments. We view Semmelrock as an important element of our core business.”
“The 100% takeover of Semmelrock represents a further step by Wienerberger in becoming a full-range supplier of building materials – from walls to roofs and floors to open spaces,“ added Heimo Scheuch in conclusion.
Semmelrock is a supplier of pavers, both in Austria and the CEE region. The product portfolio ranges from pavers and terrace boards, fencing and wall systems to palisades, steps and slabs.