World’s largest brick producer sells Russian business
Pravda Ukraine
Austrian conglomerate Wienerberger, the largest brick producer in the world, has sold two plants in Russia and exited the Russian market.
Source: RBC (Russian Business Consulting), a Russian news outlet
Stroymix, a company owned by local businessman Alexei Filin, became the new owner of the Wienerberger plants.
Wienerberger announced its intention to sell the Russian business as early as 2022 in response to Russia’s aggression in Ukraine.
The structuring of the deal turned out to be complex, but “the sale of the local business to a Russian family group was successfully completed,” said a representative of the Austrian conglomerate. He added that the parties agreed not to disclose the purchase price.
Wienerberger confirmed the deal was signed.
The Austrian conglomerate had been operating in Russia for about 20 years. The first Wienerberger brick plant in Vladimir Oblast was opened in 2004, and the second in Tatarstan was launched in 2008. The total project capacity of both plants is 450 million units of bricks per year.
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