AUSTRIA/UK: ZUMTOBEL TO MERGE WITH THORN

Article Abstract:

The Austrian lighting equipment manufacturer Zumtobel AG has signed an agreement with the investment company Kohlberg, Kravis, Roberts & Co (KKR) on a merger of Zumtobel with the Thorn Lighting Group. The merger will follow the acquisition of the British company Wassall, the parent of Thorn Lighting Group, by KKR. The latter has submitted an offer of GB[pound] 4.00 per Wassall share. Even on its own, Zumtobel, with an annual turnover of Sch 8.2bn, is one of the biggest lighting equipment makers in Europe. It has production plants also in the US, Australia and South Africa. The family enterprise is involved in the production of lighting equipment, components, solutions and light management systems. KKR will hold about one-third of the company created in the proposed merger.

United Kingdom, Electric Lamps, Electric Lamp Bulb and Part Manufacturing, Investment Offices, Investment Companies, Open-End Investment Funds, Footwear, Except Rubber, Lamps, Wassall PLC, Kohlberg, Kravis, Roberts & Co., Zumtobel AG

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US: AUSTRIAN RHI ALLOWED TO TAKE OVER GIT

Article Abstract:

The Austrian refractories producer RHI AG, formerly known as Radex-Heraklith Industriebeteiligungen, has eventually received an approval from US Federal Trade Commission to take over the competitor Global Industrial Technologies (GIT). RHI has taken over 92.3% of GIT, and is targeting the remaining shares as well. RHI paid US$ 290mn for the stake and took on GIT's debts. The approval of the takeover was delayed because RHI would get a dominant 25% market share after the takeover. RHI agreed to give up three factories in North America and close another seven.

Nonclay Refractories, Mining Machinery, Nonclay Refractory Manufacturing, Mining Machinery and Equipment Manufacturing, Refractories (Materials), RHI AG, Global Industrial Technologies Inc.

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AUSTRIA: BP SELLS PLASTIC PACKAGING ARM

Article Abstract:

The Scholl/Jodl group is taking over the company Plaspack Kunststoff Gesellschaft m.b.H. und Co. KG from BP Austria. Plaspack produces nets and net sacks out of plastic.

Plastics Product Manufacturing, Plastic Containers, All Other Plastics Product Manufacturing, Plastic Packaging Materials, Plastic packaging, BP Austria AG, Scholl Inc.

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