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FIRST GERMAN-AMERICAN MBO/MBI TO TAKE PLACE IN EASTERN GERMANY

 FIRST GERMAN-AMERICAN MBO/MBI TO TAKE PLACE IN EASTERN GERMANY
 BERLIN, June 4 /PRNewswire/ -- The Berlin-based Treuhandanstalt (German Government Privatization Authority) has sold a major company located in the new German Federal State of Saxony-Anhalt to an investors' group led by Euro Piping Components, Inc. of Houston, in a management buy-out/management buy-in transaction. This type of privatization arrangement will support the company's experienced workforce and offers an excellent opportunity for American investors interested in mid-sized companies.
 The privatized company, known as "Bebitz," has been in operation over 80 years and has become one of Europe's largest and most technically sophisticated flange and forging mills; it is located 80 miles southwest of Berlin in Germany's industrial heartland. The new owners will modernize the facility with an investment of $12 million, ensuring world-class standards in both efficiency and competitiveness; the company's skilled workforce of 250 will be retained.
 Euro Piping is the 28th American corporation to acquire a Treuhand company, bringing the number to 41 former East German companies now under U.S. ownership. These U.S. investors have pledged over $1 billion in investments, ranking the U.S. third among international investors in the new Federal States, and guaranteeing more than 6,000 jobs.
 The transaction finalized today is one of the many privatizations which was assisted by the New York office of the Treuhandanstalt. Christoph Urban, Treuhandanstalt managing director in New York, regards Euro Piping's purchase as an excellent example of a long-distance combined management buy-in/management buy-out between American and eastern German management. The New York office, in operation since November 1991, has guided over 200 U.S. companies in identifying suitable acquisition targets in eastern Germany and has assisted approximately 35 of these companies into negotiations regarding specific acquisition proposals.
 -0- 6/4/92
 /CONTACT: Christoph Urban of Treuhandanstalt, 212-888-4073, or Alice Weiss or Maria Rowley of Burson-Marsteller, 212-614-4413, or 212-614-5282, for Treuhandanstalt/ CO: Treuhandanstalt ST: IN: SU: TNM


CK-LR -- NY046 -- 7024 06/04/92 12:00 EDT
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Publication:PR Newswire
Date:Jun 4, 1992
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