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Industry: Email Alert RSS FeedWET welcomes offer from private group.(Suppliers)(WET Automotive Systems welcomes Hg Capital bid)(Brief Article)
Automotive News Europe, June, 2003
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Byline: Edmund Chew
Private equity group Hg Capital has bid [euro]168 million for German seat heater supplier WET Automotive.
WET, based in Odelzhausen, Germany, is the global leader in the fast-growing seat-heating market.
WET's supervisory board chairman, Bodo Ruthenberg, has committed his 65.7 percent stake in the company to the deal, at a price of [euro]52.7 per share.
At the beginning of April 2003 WET shares were selling at [euro]41.
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The company is quoted on the Frankfurt exchange. WET expects sales to grow to [euro]175-[euro]185 million in the financial year ...
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- 2007 utility vehicle buyer's guide: Side-By-Sides are popular; here's who ...
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