Zwolle, 25 May 2011 - Wavin NV, leading supplier of plastic pipe systems and solutions in Europe, today announces the intention to sell its clay activities on the European continent to Steinzeug Abwassersysteme GmbH, a subsidiary of Wienerberger AG.
EuroCeramic produces and sells clay sewage pipes throughout continental Europe. It operates on a stand-alone basis and includes a production facility in Belfeld, The Netherlands, a European sales office in Germany and a sales office in France, employing around 100 people overall. Total revenues in 2010 were approx. EUR 21 million.
Pending approval of the anti-trust authorities and advice of the Dutch Works Council, the sale is expected to be completed in June. Financial details of the transaction will not be disclosed.
This divestment fits in the 'Wavin 2015' plan to reduce complexity and to focus on leading local positions in plastic pipe systems and solutions. The deal has no impact on Wavin's clay activities in the UK.
Wavin is the leading supplier of plastic pipe systems and solutions in Europe. The company provides essentials: plastic pipe systems and solutions for tap water, surface heating and cooling, soil and waste, rain- and storm water, distribution of drinking water and gas and telecom applications. Wavin is headquartered in Zwolle (The Netherlands) and has a presence in 26 European countries, with manufacturing sites in 18 of those and one in China. The company employs approximately 6,400 people and reported revenue of over EUR 1.2 billion for 2010. Outside Europe, it has a global network of agents, licensees and distributors. Wavin is listed on the NYSE Amsterdam stock exchange (WAVIN). More details about Wavin can be found at www.wavin.com
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