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Kety of Poland may buy German auto-parts maker for €50 mln

Grupa Kety SA, Poland's largest aluminum-products maker, may buy a German producer of car parts for as much as €50 mln ($65 mln) as part of a plan to sell more of its products directly to manufacturers.

Kety, which makes aluminum components for a client that produces parts for Porsches, has yet to choose an acquisition target, Kety CEO Dariusz Manko said in a phone interview from Warsaw today. „We want to buy the know-how,” Manko said. „The company doesn't have to be big, but it should produce specific products for carmakers. Otherwise, it is hard for us to access the German market, where the biggest carmakers operate.” The company may spend 700 million zloty (€179 million) on acquisitions by 2009 as it works to expand in eastern Europe and sell more components to be used in manufacturing and construction, it said in 2005. It is buying a building materials maker from the Polish government and expanding its Ukrainian unit. Kety, based in the southern Polish town of the same name, withdrew from talks on buying an unidentified German company, which it had aimed to acquire by the end of the March, the chief executive said. (Bloomberg)