Wienerberger buys Solvay's Pipelife stake

By Frank Esposito
Senior Staff Reporter

Published: February 16, 2012 6:00 am ET

Related to this story

Topics Materials, Mergers & Acquisitions, Suppliers, Construction, Pipe/Profile/Tubing

VIENNA (Feb. 16, 2 p.m. ET) — Solvay SA has exited the plastic pipe market by selling its 50 percent stake in the Pipelife firm to Wienerberger AG, its partner in the joint venture.

Vienna-based Wienerberger - which ranks as the world’s largest brick maker - will pay Solvay about $225 million for its share in Pipelife, which also is based in Vienna. Pipelife employs 2,600 worldwide and had sales of more than $1 billion last year.

The two firms had founded the JV in 1990. Officials with Brussels-based Solvay said in a Feb. 15 news release that proceeds from the sale would be used to pursue the firm’s strategy of sustainable and profitable growth and focus on more strategic activities.

Solvay is a major plastics and chemical maker with 30,000 employees worldwide and annual sales of more than $15 billion.


Comments

Wienerberger buys Solvay's Pipelife stake

By Frank Esposito
Senior Staff Reporter

Published: February 16, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Huhtamäki selling film division

November 26, 2014 2:10 pm ET

Private equity firm Deutsche Beteiligungs AG (DBAG) will acquire the film business of Finland-based plastics packaging group Huhtamäki Oyj for 141...    More

Image

Americhem beats weather woes at start of 2014 for good fiscal year

November 26, 2014 9:45 am ET

Gains from the automotive and construction markets provided a strong fiscal 2014 for Americhem Inc.    More

Image

PE prices drop for first time in two years, PP down 5 cents

November 26, 2014 10:22 am ET

North American polyethylene buyers might want to circle November 2014 in red on their calendars — since PE prices this month have fallen for...    More

Image

Visteon in talks to sell its stake in Halla Visteon Climate Control JV

November 26, 2014 9:07 am ET

Visteon Corp. confirmed this morning that it is in discussions with a private equity firm to sell its stake in South Korean joint venture Halla...    More

Image

2014 US machinery shipments up 6 percent

November 25, 2014 5:17 pm ET

Through the first nine months of 2014 U.S. shipments of primary plastics equipment — for injection molding, blow molding and extrusion — g...    More

Market Reports

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events