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AUSTRIAN MACHINERY GROUP SEEKS WORLDWIDE ACQUISITIONS

 /NOTE TO EDITORS: The following is a revised version issued by the company of NY009, which moved Oct. 5./
 GRAZ, Austria, Oct. 6 /PRNewswire/ -- The Austrian machinery group Maschinenfabrik Andritz is seeking to acquire foreign consumer- orientated machinery companies in an effort to increase its worldwide profile.
 Group chairman, Ludwig Pfeiffer-Lissa, said that Maschinenfabrik Andritz was primarily interested in acquiring consumer-oriented machinery companies with a turnover of up to US$200 million. Andritz would also be interested in reviewing acquisition opportunities related to its core businesses. Andritz has a strong equity base of US$182 million. At the end of 1992 liquid funds amounted to about US$300 million.
 Andritz' consolidated group turnover fell by 4 percent to US$467 million. According to Mr. Pfeiffer-Lissa, this decline came from the pulp and paper machinery division accounting for nearly half the group's total turnover. The group operating profit fell from US$20.5 million to US$16.0 million, but an improved financial profit raised the ordinary profit before taxes to US$42.8 million from US$40.5 million in the previous year.
 The Austrian market accounted for just 7 percent of group turnover, with 27 percent generated in the EC, 19 percent elsewhere in Europe, 31 percent in the United States and Canada, 6 percent in Asia and 10 percent in other regions.
 Andritz is a market leader in the area of pulp and paper (chemical pulp equipment, double wire presses and bleach plants, paper making equipment), solid/liquid separation (dewatering equipment, filtration, drum drying systems) and pickling lines and acid regeneration equipment for steel strip processing plants with its Ruthner division.
 -0- 10/6/93
 /CONTACT: Siegfried L. Drucker of Drucker und Co., in Frankfurt, 49-69-1700-9988, or fax, 49-69-1700-9911/


CO: Maschinenfabrik Andritz ST: IN: PAP MAC SU: TNM

TW -- NY033 -- 9286 10/06/93 11:05 EDT
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Publication:PR Newswire
Date:Oct 6, 1993
Words:309
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