Andritz to buy German KMPT
Styrian industrial plant producer Andritz-AG said today (Tues) that it would buy German machine builder KMPT AG based in Vierkirchen.Andritz added that it would soon sign a contract for the acquisition of KMPT and its subsidiaries in England, France, Italy, China and the USA.Andritz said the acquisition would strengthen its environment & process business division by increasing and improving its products.The deal is expected to become final in the second quarter of this year after cartel authorities have approved it. The price has not been disclosed.KMPT has 280 employees and had turnover of 50 million Euros in 2009.Andritz announced recently that it would buy French machine-building and technology firm Rieter Textiles subsidiary Perfojet.Andritz officials said the company had already signed a purchase agreement with Reiter and only needed the approval of cartel authorities for the deal to become final. Neither side has disclosed its price.Perfojet, located in Montbonnet in Frances Auvergne region, develops and produces non-woven fabric similar to paper. It has 50 employees and had turnover of 26 million Euros in 2008. Its products are sold under the brand names “JetLace” and “Spunjet.”In another recent international deal, Andritz won a 100-million Euro contract in Chile. Andritz will deliver special technology for a plant run by Chilean cellulose firm CMPC.Earlier, in November last year, Andritz had reported a massive drop in profit. Its turnover during the first nine months of 2009 fell by 8.2 per cent year on year to 2.33 billion Euros while earnings before interest, taxes, depreciation and amortisation (Ebitda) fell by 37.1 per cent year on year to 102 million Euros.Net profit fell by 43.5 per cent year on year to 59.6 million Euros, firm officials said, adding they expected turnover to be down by 15 per cent year on year in 2009.