Ideal move to strengthen plastic pipe business in the Nordic core markets
Wienerberger 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, operates a production site in Ringebu and a sales establishment in neighboring 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.
Commenting the acquisition, Heimo Scheuch, CEO of Wienerberger AG, notes,
"Frost resistance of pipes is a particularly important issue in the Nordic countries, especially in the context of security of supply for remote regions. Pre-insulated pipes can be installed above ground and above the frost line which is the area of the ground that freezes in cold temperatures. This results in enormous cost savings in installation work. 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."
With a headcount of 35 employees, the company generated revenues of about € 12 mio in 2017.