EQS-News: Wienerberger AG
/ Key word(s): Takeover
Wienerberger acquires leading provider of piping solutions in Croatia
Vienna, June 9, 2022 – The Wienerberger Group, the world's leading supplier of building materials and infrastructure solutions, announces that an agreement to acquire Vargon d.o.o. has been signed. Through the acquisition of Vargon, Wienerberger strengthens the market position of its Piping Solutions Business Unit in South-Eastern Europe. Vargon d.o.o. is a leading provider of in-house solutions for water applications and water discharge systems in Croatia. Operating from its production site near Rijeka, the family business generated revenues of Commenting on the transaction, Heimo Scheuch, Chairman of the Managing Board of Wienerberger AG, says, “The acquisition of the family-run Vargon business enables us to further strengthen our position as a partner for the entire building envelope in Europe. This is entirely in line with our sustainable growth strategy focused on innovation and local value creation. In Vargon, we have found a partner whose corporate culture, like Wienerberger’s, is based on respect and trust.” Wienerberger expects Vargon to leverage significant growth potential through its association with Pipelife. As regards the future growth path, Wienerberger intends to focus, in particular, on the in-house segment and to further develop the well-known Vargon brand. Vargon will be able to benefit from Wienerberger’s solution competence and diversify into infrastructure solutions. At the same time, the acquisition of Vargon strengthens and broadens Wienerberger’s product portfolio in the in-house segment, as well as in the area of infrastructure. Goran Brašnić, Managing Director of Vargon, says, “I am happy to have found a strategic partner in Wienerberger; as a global operator providing an innovative and comprehensive range of all-in solutions for water applications as well as water discharge systems and infrastructure solutions, Wienerberger will ensure the sustainable further development of our company.” The contracting parties agreed not to disclose the purchase price. About Vargon
09.06.2022 This Corporate News was distributed by EQS Group AG. www.eqs.com |
Language: | English |
Company: | Wienerberger AG |
Wienerbergerplatz 1 | |
1100 Wien | |
Austria | |
Phone: | +43 1 60 192-0 |
Fax: | +43 1 60 192-10159 |
E-mail: | office@wienerberger.com |
Internet: | www.wienerberger.com |
ISIN: | AT0000831706 |
Listed: | Vienna Stock Exchange (Official Market) |
EQS News ID: | 1371131 |
End of News | EQS News Service |
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1371131 09.06.2022
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