ACQUISITION OF BRAMAC GROUP COMPLETED
Monier Group strengthens presence in key markets of southeastern Europe
Thursday 30, June 2011
The transaction giving the Monier Group S.à r.l. ownership of the Bramac Group was officially completed today. Previously, Monier and Wienerberger AG had been joint venture partners in Bramac, each owning 50% of the equity. The agreement between the two companies, under which Monier purchased Wienerberger's ownership stake, was signed at the end of January 2011.
The Bramac Group is the leading supplier of roofing materials in south-eastern Europe, employing some 900 employees and running 13 production sites. In 2010, it recorded sales of 113.4 million euros. As well as roof tiles, the company also sells roofing system components and solar thermal energy products. As part of the Monier Group, it will continue to pursue its current direction, but with even greater speed: Bramac will now be more closely involved in the parent company’s growth strategy, which is built on the sustainable expansion of its activities and profitable revenue growth. The integration of Bramac’s Bosnian operations, which in 2010 accounted for approximately 2.7% of Bramac Group sales, remains subject to regulatory approval, which is expected to be granted shortly.
Comments Pepyn Dinandt, CEO of the Monier Group: “Acquiring full ownership of the Bramac Group is part of our ongoing geographical optimization strategy for the Monier Group’s activities. It strengthens our presence in the most important markets of south - eastern Europe, where Bramac already enjoys high brand awareness, and has built up strong customer relationships over many years. The acquisition will also enable Bramac to expand its range of roofing system solutions, especially in the areas of sustainability and energy efficiency.”
As part of the deal to acquire full ownership of Bramac, Monier has divested its indirect minority interest in Austrian clay roof tile manufacturer Tondach Gleinstätten AG. Its 25% stake has been transferred to Wienerberger, which now owns 50% of Tondach Gleinstätten.
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