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Wienerberger AG withdraws from the acquisition project of the Romanian briquist Brikston and withdraws its application to the competition authority, announced the company Friday. Heimo Scheuch, CEO of Wienerberger AG, says: "Our goal is to strengthen our industrial platforms and accelerate our growth. We are very well positioned in Romania and we see in our portfolio that we currently have opportunities to grow. interesting development. we focus on expanding existing platforms through organic growth projects, and do not rule out the possibility of diversifying our local portfolio with other building materials in the future.
In May, the Competition Council announced the opening of an investigation into the takeover of Brikston Construction Solutions SA by Wienerberger Bricks Systems SRL to assess its effects on the market of the production and marketing of bricks and ceramic blocks in Romania
The Competition Council then declared: "Following the analysis conducted up to here, the Competition Council has arrived to the conclusion that this transaction is likely to create significant barriers to effective competition by creating a dominant position in the market for production and marketing.
Given that the transaction raises serious doubts as to the compatibility with a normal competitive environment and that it can not be corrected by the undertakings offered by Wienerberger Bricks Systems SRL, the Competition Council has decided to open an investigation. "
Current regulations require the Conseil de la concurrence to notify any transaction involving companies whose cumulative turnover exceeds the equivalent of 10 million euros, and at least two of the companies involved each achieved a turnover in Romania up to 4 million.The operation by which Wienerberger Bricks Systems Ltd was to take over Brikston Construction Solutions SA.would have led to an economic concentration exceeding the thresholds provided for by law , subject to the control of the Competition Council, the authority underlined in May
In October 2017, the two entities announced that they have reached an agreement on the takeover of 98.3% of Brikston Construction Solutions SA by Wienerberger AG
According to mergers and acquisitions market sources cited by mirsanu.ro, the value of the transaction was estimated at around 30 million euros
Wien Erberger Brick Systems SRL has been present in our country since 1998, mainly in the production and marketing of bricks and ceramic blocks. The company operates six bricks and pavers and employs approximately 470 employees. In 2017, the Wienerberger Group achieved a turnover of more than 76 million euros in Romania.
Our country is one of the largest markets in the CEE region, with a growing and healthy residential construction market, according to the statement quoted. Heimo Scheuch mentions: "As a leader in innovation, Wienerberger has played a key role in the construction of the Romanian construction industry over the last 20 years: we are constantly investing in the activities of our countries and we will continue to do so We will focus on developing customer relationships as well as innovative products and digital technologies. "
EMILIA OLESCU
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