Manufacturing Industry
Beiersdorf still shopping around.(FINANCIAL NEWS)
Cosmetics International, May, 2008
Is Beiersdorf being too fussy?
It's a question some might ask following a recent acknowledgement by board member Markus Pinger that decent quality acquisition targets were thin on the ground. Finding a quality company at the right price was proving tough, he said.
Beiersdorf is increasingly focusing on emerging markets in Latin America and Asia to sustain its growth rate as Western markets mature--currently Western Europe represents more than half its sales base.
In the past, Revlon has been cited as a possible acquisition target, but Pinger gave no clues as to any progress.
Nevertheless, Unicredit analyst Christian Weiz has repeated his "buy" rating. Weiz's endorsement is based on reduced costs following a restructuring of its...
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