Austria’s Wienerberger (Vienna; www.wienerberger.com) has signed an agreement to acquire Norwegian pipe specialist Isoterm (Ringebu; www.isoterm.no) for an undisclosed sum. The acquisition is expected to close in the third quarter of 2018, subject to certain conditions.

According to Wienerberger, Isoterm is Norway's leading producer of frost-resistant and pre-insulated plastic pipes, which are used for water and waste-water management in remote regions as well as in large-scale industrial and infrastructure projects. The company, which employs 35 people and generated revenues of about EUR 12m in 2017, operates a plant in Ringebu / Norway and a sales office in Stenkullen / Sweden.

Wienerberger's CEO, Heimo Scheuch, said frost resistance of pipes is of particular importance in the Nordic countries, especially to secure supply in remote regions, and the acquisition was another step in driving its plastic pipe business forward. As part of its growth strategy, the Austrian group has allocated spending of EUR 200m in 2018.

Pipelife, a wholly-owned subsidiary of Wienerberg, is one of Europe's leading suppliers of plastic pipes, pipe systems and fittings. It operates two production sites in Norway, at Stathelle and Surnadal, as well as sales offices in Oslo, Trondheim and Bergheim.