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Di, 29.08.2017 09:00
Business news for the stock market
Wienerberger AG: Wienerberger acquires Preflex Group, a leading manufacturer of prewired electro conduits
Vienna (pta023/29.08.2017/09:00) - Strengthening of Wienerberger's European pipe business in growing segment of electrical installations
Wienerberger AG announces the acquisition of the Preflex Group, a leading provider of prewired conduits, from Indufin Capital Partners. Preflex manufactures prewired flexible conduits for electrical installations with low-voltage cables as well as data cables, signaling cables, control cables, and fire alarm cables. The group operates two sites located in Ninove, Belgium and Ledignan, France, with a total capacity of up to 100,000 km of prewired conduits per year. With three logistic hubs in the region, Preflex serves more than ten European markets.
The acquisition provides a unique opportunity for Wienerberger to strengthen its business in the fast-growing segment of prewired conduits for electrical installations.
"Within the segment of electrical installations, there is a clear trend - especially in markets with high labor costs - towards prewired conduits for quicker, easier and safer installation. Preflex is one of the leading European manufactures in this segment with a strong brand and a broad product portfolio, ranging from standard solutions to specific and customized products. With its ambition to deliver top-quality products, drive innovation and strongly focus on its customers, Preflex perfectly fits into our company culture. This is a major step that allows us to strongly grow our existing electro business. It fully aligns with our strategic approach of profitable growth in areas where we see high potential for value creation", comments Heimo Scheuch, Chief Executive Officer of Wienerberger AG.
With 50 employees, Preflex Group generated revenues of roughly Eur 33 million in 2016 and margins above the average in our plastic pipe business. The take-over is part of Wienerberger's funds allocated for growth and portfolio optimization, fully in line with investment criteria and earnings accretive with immediate effect. It has been agreed with the owners not to disclose the purchase price.
For further information please contact
Klaus Ofner, Head of Investor Relations Wienerberger AG
Wienerberger AG is a pure free float company, whereby the majority of shares are held by Austrian and international institutional investors. Additional information on the shareholder structure is provided under http://www.wienerberger.com/investor-relations/the-wienerberger-share/the-wienerberger-share/shareholder-structure.