AUSTRIA: WIENERBERGER TO FORCE OUT COMPETITORS

Article Abstract:

Wienerberger, the big Austrian construction materials maker, expects a number of competing brick manufacturers to disappear from the market, which has overcapacity of 10% to 15%. This offers acquisition opportunities for Wienerberger, which is the market leader in Austria and Germany with market share of more than 30%. Currently there are 27 brick manufacturers in Austria. According to the designated chief executive Wolfgang Reithofer, Wienerberger's costs are 10% to 20% lower than those of competitors. In year 2000 brick prices fell 30%, but Reithofer expects a recovery next year. He is confident of making money on the Austrian, German and Swiss brick markets in the long term. Reithofer is confident of Wienerberger seeing an increase in profits in year 2001. In the first quarter group earnings before interest and taxes fell into a loss of EUR 11.3mn, compared with a profit of EUR 35.7mn in 1999. Turnover fell from EUR 309.2mn to EUR 304.7mn.

Sales, profits & dividends, Marketing procedures, Building Materials, Retail, Building Material and Supplies Dealers, Lumber and other building materials

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Austria: RHI denies sale to Kaerntner Gruppe

Article Abstract:

Austrian-based RHI's managing director, Georg Obermeier has denied that subsidiary Heraklith has been bought by the Kaerntner Gruppe, although he did not deny that the Management-Trust-Holding, led by Josef Taus, has been showing an interest in the insulating materials producer. Obermeier hopes to sell Heraklith by late October or early November 2001, and claims that the sale will release between EUR 100mn and EUR 115mn, which will be used to meet the company's liabilities. RHI is also planning to sell Sparte Engineering. Obermeier claimed that although the company's commitment to America with the acquisition of Harbison Walker had caused financial problems, RHI had managed to save considerable sums around the globe. RHI's shares dropped to an all-time low of EUR 8.01 on 10th October.

Asset sales & divestitures, Reconstituted Wood Product Manufacturing, Plastering, Drywall & Insulation Work, Building Paper & Board, Drywall, Plastering, Acoustical, and Insulation Contractors, Fiberboard (Engineered wood), Heraklith, RHI

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