Duerr to make several small and one large acquisition in four-five years
Duerr, the listed German machinery maker, aims to make several small and one large acquisition in the coming four to five years, Boersen-Zeitung reported.
The German-language daily cited Chief Executive Ralf Dieter as saying that Duerr is expected to continue making takeovers, and that the coming five years will probably see one acquisition that is worth more than EUR 300m.
By 2020, the targeted turnover for Duer is EUR 5bn, compared to the EUR 3.4bn-EUR 3.5bn predicted for the present year, with the increase resulting from both organic growth and acquisitions, according to the article.
Dieter said Duerr will acquire in the machinery and plant production field, and will seek to reduce its dependence on automobile sector customers.
Recently acquired German company Homag will put pressure on Duerr's profitability, which in 2015 will show a margin of 7%-7.5%, according to Dieter's cited remarks.
Duerr plans to boost its profitable services business, which already accounts for more than 25% of revenues, the report noted.
Source Boersen-Zeitung