Andritz Soars in Vienna Trading on Talks to Buy NSC Nonwoven

Thursday, August 4, 2011

Aug. 5 (Bloomberg) — Andritz AG rose the most in more than two weeks after NSC Groupe said it was in exclusive talks to sell its NSC Nonwovens business to the Austrian maker of machines used in the paper and metals industries.

Andritz climbed 1.5 percent to 58.77 euros, the biggest increase since July 19, at the 5:30 p.m. close of Vienna trading, after earlier advances of as much as 5.7 percent.

The unit consists of the companies Asselin-Thibeau, based in Elbeuf, France, and Wuxi NSC, based in China, and makes equipment used in the production of non-woven fabrics, the manufacturer of machinery said in a statement on the Les Echos website today. Negotiations will take place in the coming weeks, NSC said in the statement.

In 2010 NSC Nonwovens was responsible for 41 percent of its parent’s 78.8 million-euro ($112 million) turnover, according to NSC’s website.

Michael Buchbauer, a spokesman for Graz, Austria-based Andritz, didn’t immediately answer e-mails seeking comment.

–With assistance from Phil Serafino in Paris.

Source:  www.sfgate.com

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