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Metabo plans to strengthen its capital baseNürtingen, May 2011: Metabo is resolutely taking the next step in restructuring the company. With the strategic reorientation focused on professional users having been implemented and the product and target group offensive a success around the world, the Nürtingen power tool manufacturer now plans to improve its capitalization. “Our strategy is aimed at the long term and growth. Metabo achieved a positive operating result last year. The first quarter’s figures are also very satisfactory. This shows that we are on the right course and have managed the turnaround”, CEO Horst W. Garbrecht explains.
Now Metabo plans to take advantage of the favourable conditions in the markets and to increase its equity for the planned growth measures. The three shareholder families are prepared to accept additional shareholders in order to supply the company with fresh money. “We plan to use the new capital in order to further accelerate our growth strategy and the continued expansion of strategic business areas,” Garbrecht continues. “In the process we will deliberately approach solid financial investors who attach importance to sustainability, support the new strategic orientation by conviction, and will help Metabo finance fast and sustainable growth.”
The power tool manufacturer registered a 13 per cent increase in turnover last year to euro 338 million, and the first months of this year show a continuation of this positive development. Metabo has therefore engaged the renowned Hamburg bank Berenberg to support the company in finding suitable investors.
“The owner families have injected fresh capital to a significant extent in the restructuring period and economic crisis and have hence decisively contributed to ensuring Metabo’s successful long term future,” as CFO Eric Oellerer emphasizes. “Now is the right time to resolutely implement the growth strategy together with the existing shareholders and an additional investor.”