AUSTRIA: ANDRITZ RAISES MONEY FOR AHLSTROM BUY

Article Abstract:

Andritz AG of Graz, Austria, expects to raise about EUR 50mn by going public. The money will be spent on the acquisition of the remaining 50% in Ahlstrom-Andritz . Through the acquisition, Andritz claims to become the world's leading supplier of pulp production systems. Wolfgang Leitner, President and CEO, aims to increase turnover at an annual rate of 10%. Earnings before interest, taxes, depreciations and amortisations should grow by between 7% and 10% per year, and return on capital employed should exceed 30%. In the first quarter of 2001 Andritz saw its turnover rise by 33.5% to EUR 388.2mn and order books by 24.1% to EUR 1.04bn. Earnings before interest, taxes, depreciations and amortisations surged 135.1% to EUR 13.4mn.

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AUSTRIA: ANDRITZ ISSUE FAILS TO MEET EXPECTATIONS

Article Abstract:

Andritz AG of Graz has extended the offering period until 22 June 2001 and is planning to be listed on the Vienna Stock Exchange on 25 June 2001. The volume of offered Andritz shares was reduced to 2mn. The new shares will be offered at a fixed price of EUR 21 (rather than EUR 23 to 27), giving a total transaction volume of EUR 42mn. Originally Andritz expected to raise EUR 50mn in order to finance the buy-out of its joint venture partner in Andritz-Ahlstrom.

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AUSTRIA: ANDRITZ PREPARING TO GO PUBLIC

Article Abstract:

The extraordinary shareholders' meeting of the engineering group Andritz on 6 September 2000 is to take a decision on approved capital of EUR 36.35mn over the next five years. The shareholders are to decide also on a personnel participation scheme. It is planned that the supervisory board may exclude existing shareholders from stock option if the share capital is increased to cater for employee participation for employee stock option schemes.

Securities issued, listed

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