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Sep 22, 2014

Siemens in agreed $7.6 billion deal to buy Dresser-Rand

FRANKFURT, Sept 22 (Reuters) – Industrial conglomerate Siemens AG SIEGn.DE said on Monday it would buy U.S. oilfield equipment maker Dresser-Rand Group Inc DRC.N for $7.6 billion in a move that would significantly boost the German company’s oil and gas business in North America.

Germany’s Siemens said its $83 per-share bid was unanimously supported by Dresser-Rand’s board of directors. That compares with a Friday closing price of $79.91, which already had been bolstered by takeover speculation in the past several days.

Sep 18, 2014

Bayer hits record high on move to list plastics business

FRANKFURT (Reuters) – Germany’s Bayer (BAYGn.DE: Quote, Profile, Research, Stock Buzz) plans to list its less profitable plastics business on the stock market in a deal that could value the division at around 10 billion euros ($13 billion) as it focuses on healthcare, veterinary drugs and crop protection.

News of the planned spin-off of the MaterialScience division, where profit margins are less than half the company average, lifted Bayer shares to a record high. It follows a wider healthcare industry trend of divesting weaker businesses and bulking up in areas of strength.

Sep 17, 2014

Germany-listed firm says top China executives missing, cash gone

FRANKFURT/HONG KONG, Sept 17 (Reuters) – A Germany-listed
shoemaker became the latest Chinese company to report the
disappearance of top executives, underscoring the danger of
doing business in the Asian powerhouse at a time of heightened
scrutiny of its firms’ corporate governance.

Frankfurt-listed Ultrasonic AG said chief executive
Qingyong Wu and chief operating officer Minghong Wu had been
missing since the weekend, and most of its cash reserves in
China and Hong Kong had disappeared.

Sep 9, 2014

Private equity firms to bid for Germany’s Median Kliniken-sources

FRANKFURT, Sept 9 (Reuters) – The owners of Median Kliniken,
Germany’s largest private sector chain of health rehabilitation
clinics, have picked at least three private equity suitors to
hand in final bids for the business, people familiar with the
matter told Reuters.

French buyout firm PAI Partners and Dutch rival Waterland,
which owns smaller German chain of specialist clinics RHM, are
among the suitors for Median, which could be valued at roughly
800 million euros ($1 billion), the sources said.

Aug 20, 2014

Tyre makers race to turn dandelions into rubber

MUENSTER, Germany, Aug 20 (Reuters) – Dutch biologist Ingrid
van der Meer often meets with disbelief when she talks about her
work on dandelions and how it could secure the future of road
transport.

The reaction is understandable, given most people regard the
yellow flowers as pesky intruders in their gardens rather than a
promising source of rubber for tyres.

Aug 14, 2014

K+S profit beats view on insurance windfall, prices

FRANKFURT, Aug 14 (Reuters) – German potash miner K+S
beat estimates for quarterly earnings on Thursday,
bolstered by an insurance payment for a mining accident and as
prices for potash fertilisers recovered further from a slump
last year.

Second-quarter earnings before interest and tax (EBIT),
adjusted for the effect of currency hedging, edged 3.3 percent
lower to 157.3 million euros ($210.2 million), which included a
one-off insurance payout of about 30 million euros.

Aug 4, 2014

Bilfinger CEO quits after second profit warning since June

FRANKFURT, Aug 4 (Reuters) – German industrial services and
construction group Bilfinger SE said Chief Executive
Roland Koch would quit, taking responsibility for a second cut
in its 2014 earnings outlook since end-June.

The group now expects adjusted earnings before interest,
taxes and amortisation (EBITA) of 340 million euros ($456
million) to 360 million euros, down from a previous target range
of 380-400 million announced on June 30, when it had already cut
its outlook.

Jul 31, 2014

Fresenius hospital, dialysis units post solid quarter, shares up

FRANKFURT, July 31 (Reuters) – German healthcare group
Fresenius SE posted earnings that exceeded
expectations and showed solid performance for its hospitals and
kidney dialysis units, driving up its shares on Thursday.

Second-quarter adjusted net income edged up 0.4 percent to
259 million euros ($347 million), slightly above the 255 million
average estimate in a Reuters poll, as the company said it was
making progress integrating newly acquired facilities at its
hospitals unit.

Jul 30, 2014

Bayer results fall slightly short of view on strong euro

FRANKFURT, July 30 (Reuters) – Bayer, Germany’s
largest drugmaker, reported second quarter results slightly
below expectations and tempered its 2014 sales forecast as
growth from newly launched pharmaceuticals was offset by a
strong euro weighing on the value of overseas sales.

The inventor of Aspirin and maker of Yasmin birth-control
pills said on Wednesday that second-quarter adjusted earnings
before interest, taxes, depreciation and amortisation (EBITDA)
came in at 2.22 billion euros ($2.98 billion), just short of the
average estimate of 2.31 billion euros in a Reuters poll.

Jul 24, 2014

BASF profit misses forecast as strong euro bites

FRANKFURT (Reuters) – BASF (BASFn.DE: Quote, Profile, Research, Stock Buzz), the world’s largest chemicals maker by sales, became the latest euro zone company to suffer from the strength of the euro, posting lower-than-expected earnings growth even as sales volumes rose.

Second-quarter earnings before interest and tax (EBIT),adjusted for one-off items, rose 12.1 percent to 2.05 billion euros ($2.76 billion), just short of the 2.12 billion euro average estimate in a Reuters poll of analysts.

    • About Ludwig

      "I am the Deputy Chief Correspondent for Reuters' company news out of Germany, also covering the healthcare and chemical industry. Previously, I worked as a reporter for Bloomberg News in Switzerland."
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