Pfleiderer Wants To Double Sales by 2010

Neumarkt, Germany, September 24, 2007-- Board and laminate maker Pfleiderer is eyeing acquisitions to increase market share and reach its goal of doubling annual revenue to 4 billion euros ($5.6 billion) by 2010, a German weekly reported.

"We will make further acquisitions in the coming years," the Euro am Sonntag quoted Germany-based Pfleiderer's chief executive Hans Overdiek as saying.

Pfleiderer's stated target is for sales to reach 1.9 billion euros in 2007 and the Euro am Sonntag said Overdiek is aiming for annual sales of 4 billion euros in the next two to three years.

Overdiek told the Euro am Sonntag that Pfleiderer aimed to grow its market share in laminate floors to 15% in the next few years from 5%. "That can be reached only through acquisitions," he said.

Pfleiderer has credit lines of between 600 million and 700 million euros, Overdiek said, adding that a capital increase was "conceivable".

The appreciation of the euro against the U.S. dollar <EUR=> was an advantage for Pfleiderer, which has production in the United States, against European rivals lacking that, he said.

"As demand in the United States is weak and the strong euro is making exports (from Europe) more expensive, our competitors will hardly be able to sell their products in America. Naturally that helps us," Overdiek said.

Pfleiderer could also consider production in Asia.

"Asia will certainly be a theme in a foreseeable future, also as a production location," he said