Wienerberger AG signed the take-over of Isoterm AS, a producer of frost-resistant and pre-insulated plastic pipes based in Norway. The company, which is the Norwegian market leader in these applications, operates a production site in Ringebu and a sales entity in neighbouring Sweden. Its special pipes are used for water and waste-water management in remote regions as well as in large-scale industrial and infrastructure projects. With a headcount of 35 employees, the company generated revenues of approx €12 million in 2017. The acquisition is part of Wienerberger’s growth strategy with €200 million earmarked for 2018.
“I am happy to report that by acquiring Isoterm we have taken yet another step in driving our plastic pipe business forward. Our growth strategy is clearly aimed at complementing our business in core markets by offering specialized high-margin products of first-rate quality. In the pipe segment, we hold a leading market position in our Nordic markets – and Isoterm is an ideal fit for our portfolio.
”Pipelife, a wholly-owned subsidiary of Wienerberger AG, operates in 26 countries and is among the leading European suppliers of high-quality plastic pipes, pipe systems and
fittings, and Norway is one of Pipelife’s core markets in Northern Europe. Subject to certain closing conditions, the closing of the acquisition is expected for the third quarter of 2018.