KBA chief hints at packaging acquisitions

Speaking at the company’s AGM this week, KBA president and chief executive Helge Hansen, who was appointed in March, revealed his intention to focus on packaging and green energy technology markets.

Hansen said that the company must look to “high-potential sectors” to achieve growth in the medium term.

“Two of the sectors we are focusing on are packaging and green energy technology, and here we have already developed specific concepts,” Hansen said.

“Alongside a more customary merger or acquisition we are considering taking a stake in a promising new start-up or entering an alliance with an established player as a means of gaining access to these markets.”

KBA published global financial results for 2008 on 30 April that revealed a 20% drop in sales to EUR1.5bn (£1.3bn). KBA recorded a net loss of EUR101m, compared to a net profit of EUR49m in 2007.

The company has applied for a government guarantee effective from 1 April 2010, but attributes this to “changes in banks’ policies rather than in KBA’s liquidity”.

At present we have no net bank debts,” said Hansen. “On the contrary, in recent months we have improved our net financial position to a good €36 million and our operative cash flow is positive.”

KBA held its 84th AGM at the Vogel Convention Center in Würzburg in May.

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