EU Commission clears Wienberger’s bid for control of Pipelife

15 May 2012 14:13  [Source: ICIS news]

LONDON (ICIS)--The European Commission has decided not to oppose plans by Austrian building materials firm Wienerberger to acquire 100% ownership of plastics pipe maker Pipelife, it said on Tuesday.

The proposed deal is compatible with EU competition law, the commission said in a brief statement without disclosing details.

Wienerberger, which already owns 50% of Pipelife, plans to buy the remaining 50% from Belgium-based chemicals company Solvay for €172m ($221m).

Vienna-based Pipelife employs 2,600 people at 29 production facilities worldwide.

Pipelife produces and sells polyvinyl chloride (PVC) and polypropylene (PP) plastic piping systems, serving both EU and international markets. Pipelife’s main line of business is the production of sewage pipes.

Solvay and Wienerberger founded the joint venture 22 years ago.

($1 = €0.78)

By: Stefan Baumgarten
+1 713 525 2653

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