German industrial giant Bosch is in talks with SIF Banat-Crisana to acquire machine tools producer IAMU Blaj. SIF Banat-Crisana owns a 76% stake in the company, sources close to the deal told Ziarul Financiar.
"Bosch is interested in IAMU, but no deal has been made as yet", the sources said.
Bosch, which has a business of 40 billion euros a year, is one of the world's best-known producers of professional tools and industrial equipment.
A deal on the takeover of IAMU Blaj would see the Germans begin production operations in Romania after a ten year presence on the market through their sales structures for portable electrical tools, car accessories and home heating devices. There was no comment from Bosch and SIF Banat-Crisana representatives by the time Ziarul Financiar went to press.
IAMU Blaj was established in 1972 and manufactures and supplies precision mechanical product accessories, equipment and parts for machine tools.
In 2004 the company saw its turnover leap by around 50% to some 6 million euros thanks to exports of equipment.
Shareholders in the company also include SIF Oltenia, which has a stake of around 19.7%, according to the latest information available. IAMU stock is listed on the RASDAQ Electronic Stock Exchange, where the company's market capitalisation was 1.05 million euros at a share price of 26,000 ROL.
The Bosch group opened its Romanian office in 1994. Robert Bosch SRL, the regional office of the group, posted a turnover of 38 million euros at the end of 2003.
adrian.mirsanu@zf.ro ; vlad.nicolaescu@zf.ro
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