VIENNA (Thomson Financial) - Mayr-Melnhof Karton AG is unlikely to make any
large acquisitions in Asia during the next two years, chief executive Wilhelm
Hoermanseder told the Austrian business daily WirtschaftsBlatt in an interview.
"The region around Europe offers us greater marginal utility," Hoermanseder
said, adding that Mayr-Melnhof remains "too small" in countries such as Russia.
According to Hoermanseder, the diminished conditions for private equity
firms has led to sinking prices for Mayr-Melnhof's possible acquisition targets.
"I'm already hearing the first sounds of knocking at the door from companies
that were too expensive for us a year ago -- that group also includes some big
fish," Hoermanseder told WirtschaftsBlatt.
peter.klopf@thomson.com
pkl/tc
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|