AUSTRIA/US: PANKL TO EXPAND IN AVIATION SECTOR
Article Abstract:
Pankl Racing Systems AG aims to raise the share of aviation components to 10-15% of turnover in the medium term from 2-3% at present. Pankl has made the Kapfenberg-based company Oederlin Warmpress, in which it acquired a 30% stake in July 1999, into a competence centre for aviation products. In the medium term the turnover of Oederlin Warmpress is to be trebled to Sch 150mn. Pankl has an option to take over the shares it does not already own. Pankl has now signed a letter of intent to acquire the US company Clark & Wheeler, which specialises in rotor masts for helicopters and generates an annual turnover of US$ 6.3mn. Pankl is planning further acquisitions in year 2000. These may involve producers of automotive components such as wheels, brakes, sensors, transmissions and engines. Pankl expects annual growth rates of 25-35%. In the 9-month fiscal year to September 1999 the company generated a turnover of Sch 331mn. Earnings before interest and taxes in 1999/2000 are estimated at less than 20% of turnover (down from 21% in 1998/99), whereas a higher margin is expected in the coming years.
Publisher: Unabhaengige Tageszeitungs fuer Oesterreich
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
Financial management, Pankl Racing Systems AG
Austria/US: Bohler-Uddeholm reviews plans
Article Abstract:
As a result of the terrorist attacks in the US that hit the aircraft industry, Austrian steel maker Bohler-Uddeholm is revising its plans to expand as a supplier to the aviation industry. Bohler chief executive Claus Raidl says that the company was to spend a few hundred million in expanding in this field in the US. Bohler-Uddeholm's deliveries to the aviation industry include aero engine parts.
Publisher: Unabhaengige Tageszeitungs fuer Oesterreich
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2001
Strategy & planning, Iron and Steel Mills, Blast furnaces and steel mills, Blast Furnaces & Steel Mills
US: AUSTRIAN PANKL TO BUY CLARK & WHEELER
Article Abstract:
The Austrian motor sports supplier Pankl Racing Systems is to take over the Californian aircraft company Clark & Wheeler by the end of year 2000. In the first quarter of year 2000 Pankl saw a 35% increase in turnover to EUR 11.2mn.
Publisher: Unabhaengige Tageszeitungs fuer Oesterreich
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
Aircraft & Parts, Aerospace Product and Parts Manufacturing, Aircraft and Parts
Subjects list: United States, Austria, Aircraft parts
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