Hansen Transmissions sales fall 8.5% in Q1 FY 2011/2012.
The company blamed the decline on the consequences of the economic crisis.
The net debt increased to EUR 41 million from EUR 20 million.
Hansen Transmissions said the wind-turbine market remains volatile which limits the visibility even in the short term. Yet, the company projected revenue growth of between 5% and 15%.
Meanwhile, German car parts maker ZF Friedrichshafen launched today a takeover bid for the Belgian firm. The German company offered GPB 0.66 per share in Hansen Transmissions, a premium of more than 95% to the closing price on Friday. The bid values the Belgian company at some GBP 444.8 million.
(EUR 1 = USD 1.437)
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|Publication:||ADP News Belgium|
|Article Type:||Financial report|
|Date:||Jul 25, 2011|
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