|
In January 2003, the Company acquired IDEAS, previously AMEC Technologies Inc., a specialist in process simulation for the pulp and paper industry. And in March 2003, it acquired Acutest, a provider of monitoring technology and preventative and maintenance safety services for process machinery. In September 2003, the Company acquired Heinrich Fiedler Group headquartered in Germany. Fiedler develops and manufactures screen baskets, rotors, pressure screens and cleaners for the pulp and paper industry. For these three acquisitions a total purchase price of EUR 15,038 thousand has been paid, the related goodwill amounted to EUR 7,688 thousand. The described acquisitions are all part of the pulp and paper segment.
The remaining 24,5% of shares of Thermtec Holding B.V., Netherlands were acquired in June 2003 for a purchase price of EUR 1,238 thousand. Thermtec has already been fully consolidated in the last years. Therefore the minority interests have been reduced by EUR 248 thousand and the difference to the purchase price of EUR 990 thousand has been shown as goodwill.
Inter-company balances and transactions, including inter-company profits and unrealised profits and losses have been eliminated. The consolidated financial statements have been prepared using uniform accounting policies for like transactions and other events in similar circumstances.
|
Help 
