Vossloh AG. said it plans to make acquisitions in the United States and Asia and to that end has a war chest of 400 million euros that could be spent this year, chief executive Werner Andree told Thomson Financial News partner dpa-AFX.
The German transportation solutions company last year spent 90 million euros on acquisitions, including two U.S.-based switch manufacturers.
Andree said an acquisition must live up to the company's target of a return on capital employed (ROCE) of 15 percent within two to three years.
He said he does not expect an acquisition before the second half of the year. 'Acquisition prices are currently sliding, because financial investors are less active. We can wait,' he said.
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