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

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

China's biggest fuel tank maker getting a US foothold

April 23, 2014 4:41 pm ET

The majority owner of China's biggest fuel tank maker is expanding its global automotive footprint with the acquisition of the fuel tank unit of...    More

Image

China's Shide Group, BASF unveil 'revolutionary' all-plastic window profile

April 23, 2014 9:10 pm ET

SHANGHAI — The PVC window profile market in Asia is expected to increase four-fold by 2025, and Chinese building products maker Dalian Shide...    More

Worker dies in fall at Formosa Texas plant

April 23, 2014 4:04 pm ET

A subcontractor died April 22 after falling 25 feet during routine cleaning operations at a Formosa Plastics Corp. USA facility in Point Comfort,...    More

Image

Milliken expanding SC plant for additional PP clarifying agent capacity

April 23, 2014 3:42 pm ET

American chemical company Milliken & Co. has announced plans for a major expansion in capacity for its Millad NX8000 clarifying agent for...    More

Image

CPM Extrusion, ECON launch new line of underwater pelletizers

April 23, 2014 11:25 am ET

CPM Extrusion Group and ECON GmbH unveiled their brand new EUPC line of underwater pelletizers today at ChinaPlas held in Shanghai, China.    More

Market Reports

Market Data Book - Rankings & Lists

A one-stop download of Plastic News' exclusive annual lists and processor rankings containing essential data including sales, employees, end markets, materials and more.
EXCLUSIVE EXCEL FEATURE: full mailing address details for available plant locations.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report provides analysis and discussions of economic and political conditions, market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as strategies being implemented by thermoformed packaging companies. In addition, there are reviews of 25 leading thermoformers in the packaging segment, assessing their growth initiatives and performance metrics over 10 years.

Learn more

Mold Making and Tooling Review and Outlook 2014 North America

This report provides in-depth analysis of the mold and toolmaking market for North America, including discussions of trends, opportunities, threats, the latest developments in production and labor and equipment trends impacting moldmakers.

Learn more

Upcoming Plastics News Events

May 6, 2014 - May 8, 2014Plastics in Medical Devices 2014

May 12, 2014 - May 12, 2014Plastics News Brazil Pharma Summit

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

February 3, 2015 - February 7, 2015Plastics News Executive Forum 2015

More Events