All Stories
Follow
Subscribe to Wienerberger AG

Wienerberger AG

ots Ad hoc-Service: Wienerberger Baustoffind. <AT0000831706> Wienerberger sells Treibacher Industrie AG

Vienna (ots Ad hoc-Service) -

Ad hoc-announcement edited and sent by DGAP. The sender is solely
responsible for the contents of this announcement.
Wienerberger Baustoffindustrie AG announces the sale of its non-
core subsidiary Treibacher Industrie AG, with headquarters in
Treibach-Althofen (Carynthia, Austria), to the German August von
Finck industrialist in the form of a "share deal". Treibacher
Industrie AG recorded sales of EUR 164 million and profit after tax
of EUR 10.6 million in 1999 with 576 employees and specializes in
ferro-alloys.
This sale includes only operating assets and related liabilities.
The purchase price and interest-bearing liabilities to be assumed by
the buyer total EUR 126 million. This will generate additional income
after tax of EUR 58 million for Wienerberger in this "Year of
Harvest". Non- operating assets were previously spun off in a
preparatory transaction. They include a valuable fresh water supply
plus a small hydroelectric power plant, non-operational real estate,
Treibach Palace, and excess liquidity. The divested non operating
assets have a total value of approximately EUR 44 million. The
transaction volume for the entire "Treibacher Package" can therefore
be estimated at EUR 170 million.
This change in ownership at Treibacher Industrie AG is taking
place with the involvement of the Managing Board and approval by the
Workers' Council. The industrial orientation and strong financial
position of the new private shareholder will provide a solid basis
for an even more independent and successful development in the
future. Management will remain unchanged and Dr. Reinhard Iro will
continue as sole managing director. For Wienerberger, the successful
sale of Treibacher Industrie AG signifies a concluding milestone in
the implementation of the Group's concentration strategy. The share
of Group capital employed held by the Financial Investments segment,
which equaled 37% four years ago, will now fall below 1%. The
Wienerberger Group has therefore become a global "Pure Player" in the
international building materials industry with a leading position in
bricks and pipes.
Wienerberger Baustoffindustrie AG The Managing Board Vienna,
For additional information contact: Thomas Melzer, Investor
Relations Officer Tel.: +43 (1) 60192-471 (463), E-Mail: 
investor@wienerberger.com
End of message
Internet: http://recherche.newsaktuell.de

Original content of: Wienerberger AG, transmitted by news aktuell

More stories: Wienerberger AG
More stories: Wienerberger AG