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Frauenthal ready to pay EUR 100m for industrial, trade group in Europe.

(SeeNews) - Mar 12, 2013 - Austrian industrial group Frauenthal Holding AG (WBAG:FKA) wants to acquire a European industrial or distribution company for some EUR 100 million (USD 130.6m) in 2013 to add a third business line to its operations, manager Hans-Peter Moser told journalists on Monday.

The company thus wants to reduce the cyclical fluctuations in its revenue from the automotive industry.

Frauenthal is active in the manufacture and sale of components for commercial vehicles and the wholesale of sanitary and plumbing ware. After the sale of its catalyst activities in 2012 it is looking for a third income driver but is not interested in a company in real estate, finance, the services or the defense industries.

The potential acquisition target will likely be from a German-speaking country and have a strong market position, Moser added. Frauenthal is currently carefully examining a number of companies in Austria and wants to buy an entity in need of restructuring but not very fundamental.

Additional equity deals are also being considered, Martin Sailer from the management board said, adding that because of the currently low valuations in the automotive supply industry there are good opportunities. The company is also looking abroad for an acquisition in sanitary wholesale so that it can optimally utilize its existing logistics structure.

(EUR 1.0 = USD 1.306)
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Publication:SeeNews Austria
Date:Mar 12, 2013
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