FRANKFURT, July 30 (Reuters) – German trains-to-turbines
group Siemens beat expectations for its third-quarter
results and stuck to its full-year outlook on Thursday despite
weakness in China.
The Munich-based group reported solid results in six of its
eight divisions, with industrial software and healthcare in
particular lifting profits to counter declines in gas turbines
and transportation for the quarter to end-June.
FRANKFURT, July 29 (Reuters) – Germany’s HeidelbergCement
has re-emerged as a global M&A player with the 6.7
billion-euro ($7.4 billion) takeover of Italcementi,
after spending the best part of a decade repairing the damage
from its last major acquisition.
The company has been painstakingly rebuilding its finances
since the global financial crisis pushed it to the brink of
bankruptcy after its debt-fuelled, 7.85 billion pound ($12
billion) acquisition of Britain’s Hanson in 2007.
FRANKFURT/MILAN, July 28 (Reuters) – HeidelbergCement
agreed to buy control of Italcementi in a
deal that values its smaller Italian rival at 6.7 billion euros
($7.4 billion), less than three weeks after Holcim and Lafarge
completed their $44 billion cement mega-merger.
The German cement maker, which said as recently as last
month it would be disciplined about acquisitions and focus on
returning cash to shareholders, said the chance to buy at the
bottom of the cycle in recovering southern Europe was too good
to pass up.
FRANKFURT, July 28 (Reuters) – German drugs packaging firm
Gerresheimer has agreed to buy U.S. plastic vial maker
Centor for $725 million in cash, giving it a leading position in
the world’s biggest drugs market and lifting its shares to an
Centor has more than half the U.S. prescription retail
market, selling 1.5 billion vials a year including “Screw-Loc”
and “1-Clic” products to pharmacies which use them to package up
oral drugs exactly counted out for each individual prescription.
FRANKFURT (Reuters) – Shanghai Feilo Acoustics (600651.SS: Quote, Profile, Research, Stock Buzz) has made a non-binding offer to acquire the lamps business of Germany’s Osram (OSRn.DE: Quote, Profile, Research, Stock Buzz), the Chinese company said, lifting Osram shares on Tuesday.
Though Osram said it had not started an active sales process, it has hired UBS (UBSG.VX: Quote, Profile, Research, Stock Buzz) to help it to choose a preferred buyer and sources told Reuters last month that the company had been in talks with potential suitors including peers in China.
FRANKFURT (Reuters) – German cable company Tele Columbus has agreed to buy PrimaCom for 711 million euros ($777 million) in cash, combining the country’s third and fourth biggest operators as consolidation accelerates across Europe.
Germany has been slower to allow cable mergers than some other European countries which are down to one provider. It is one of the most important markets for both Vodafone and Liberty Global, who are exploring asset swaps.
MUNICH, Germany (Reuters) – Siemens (SIEGn.DE: Quote, Profile, Research, Stock Buzz) could still be interested in buying power-generation assets from French rival Alstom (ALSO.PA: Quote, Profile, Research, Stock Buzz) on the same terms it offered a year ago if General Electric’s (GE.N: Quote, Profile, Research, Stock Buzz) deal to buy them falls through, a senior management source said.
However, the Germany company sees the pace of change slowing down after a flurry of acquisitions, disposals and job cuts, the person added on Monday.
FRANKFURT/BERLIN, July 5 (Reuters) – Martin Herrenknecht,
founder of a company in southern Germany that is a world leader
in tunnel-boring equipment, has been carefully preparing for the
day when Iran reopens for business.
He recently visited Tehran, meeting officials in the energy
ministry and sewage department. Before Western sanctions hit,
Herrenknecht, which carries its 72-year-old founder’s name, did
10 million to 15 million euros ($11 million-$17 million) of
business a year in Iran.
FRANKFURT (Reuters) – German industry is beginning to call for Greece to quit the euro zone, having already pared back what business it had there, and now fearing that a continuation of the crisis could spoil a nascent recovery in the rest of Europe.
“A Greek exit from the euro zone can no longer be taboo,” said Matthias Wissmann, president of the powerful German automotive industry association VDA.
FRANKFURT, June 18 (Reuters) – German engineering services
firm Bilfinger plans to sell the power-plant unit
blamed for six profit warnings as a first step in what could be
a more drastic restructuring, its chief executive said two weeks
after taking over.
Germany’s policy switch towards renewable energy has caused
upheaval in its power market and hurt Bilfinger’s utility
clients, squeezing the company and exposing internal failings.