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AUSTRIAN PAPER COMPANY SEEKS WORLDWIDE ACQUISITIONS

 VIENNA, Austria, Oct. 5 /PRNewswire/ -- The leading Austrian pulp and paper manufacturer, Maschinenfabrik Andritz, is seeking to acquire foreign consumer-orientated engineering businesses in an effort to increase its worldwide profile.
 Company Chairman, Ludwig Pfeiffer-Lissa said that Maschinenfabrik Andritz was primarily interested in acquiring companies with a turnover of up to US$200 million in the engineering business. The company is also looking for acquisition opportunities in its core paper business. The company has a strong equity base of US$182 million, and at the end of 1992 held liquid funds amounting to around US$300 million.
 Andritz' Consolidated Group turnover fell by 4 percent to US$467 million. According to Mr. Pfeiffer-Lissa, this decline was due to nearly half the group's total turnover coming from the company's pulp and paper machinery division. 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.
 Although based in Austria, the domestic market accounted for only 7 percent of group turnover, with the EC Generating 27 percent, the rest of Europe 19 percent, the USA and Canada 31 percent, Asia 6 percent and 10 percent in the rest of the world.
 Andritz is a market leader in the 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 through its Ruthner division (pickling lines and acid regeneration equipment for steel strip processing plants).
 -0- 10/5/93
 /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 SU: TNM

PS -- NY009 -- 8689 10/05/93 07:59 EDT
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Publication:PR Newswire
Date:Oct 5, 1993
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