euro adhoc: Andritz AG
Mergers - Acquisitions - Takeovers
Andritz
acquires VA TECH WABAGs Fluid Bed Systems Business Area (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Graz, 03 September 2004. International technology group Andritz, continuing its strategy of acquiring companies with complementary products, signed an agreement to buy the Fluid Bed Systems Business Area of VA TECH WABAG, Germany. The parties have agreed not to disclose the purchase price. The acquisition is subject to the approval by antitrust authorities, and is scheduled to become effective by the end of October 2004.
Based in Ravensburg, Germany, the globally active Fluid Bed Systems Business Area is specialized in the development, production and erection of plants for granulation and drying of solutions, suspensions, and bulk materials.
The majority of the business area's total sales of approx. 15 to 20 MEUR is to chemical and petrochemical production companies. The remaining is to the food and basic materials industries.
"By acquiring the Fluid Bed Systems Business Area of VA TECH WABAG we can further complete our product and process know-how in the Environment and Process Business Area, enabling us to offer our customers a broad range of products for various drying technology applications," says Wolfgang Leitner, President and CEO of Andritz.
About the Andritz Group The Andritz Group- listed on the Vienna Stock Exchange - is a global market leader for advanced production systems for pulp and paper, steel and other specialized industries. As of June 30, 2004, Andritz had a staff of 4,885 employees worldwide. It develops and makes its high-tech systems at 16 production sites (Austria, Germany, Finland, Denmark, France, Netherlands, USA, Canada and China).
Disclaimer Certain statements contained in this press release constitute "forward-looking statements". These statements, which contain the words "believe", "intend", "expect" and words of similar meaning, reflect managements beliefs and expectations and are subject to risks and uncertainties that may cause actual results to differ materially. As a result, readers are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to publicly announce the result of any revisions to the forward-looking statements made herein, except where it would be required to do so under applicable law.
end of announcement euro adhoc 03.09.2004
Further inquiry note:
Michael Buchbauer
Head of Investor Relations
Tel.: +43 316 6902 2979
Fax: +43 316 6902 465
mailto:michael.buchbauer@andritz.com
Branche: Machine Manufacturing
ISIN: AT0000730007
WKN:
Index: ATX, ATX Prime, WBI
Börsen: Wiener Börse AG / official dealing