CORRECTED - UPDATE 1-MTU aims to find anchor investor in 1-2 years - CEO

(Corrects sixth paragraph to show that Volvo Aero is a unit of AB Volvo (VOLVb.ST), not Ford-owned carmaker Volvo)

* MTU CEO says wants anchor investor from different industry

* Says has 0.5-1.0 bln eur to spend on acquisitions

* Says does not expect further provisions for A400M project

* Shares up 0.1 pct

(Adds detail, background)

MUNICH, Nov 27 (Reuters) - MTU Aero Engines (MTXGn.DE) aims to find an anchor shareholder in the coming one to two years, Chief Executive Egon Behle said.

"I would like to have an anchor shareholder pretty soon but it will probably take another one or two years," he said in remarks for release on Friday.

About 94 percent of MTU's stock is in free float, and it holds the remaining stock itself. Behle said an anchor investor for MTU, which makes components for military and civilian aircraft engines and provides maintenance services, should not be from the same industry.

MTU shares were up 0.8 percent at 33.90 euros by 1125 GMT on Friday, outpacing Germany's midcap index .MDAXI, which rose 0.4 percent.

Goldman Sachs said in September that it saw MTU as a possible takeover target in the future and raised its price target on the company's stock to 44.50 euros from 33.30 euros.

MTU competes with companies such as Volvo Aero, a unit of Swedish group AB Volvo (VOLVb.ST), and Italy's Avio. On many projects, it cooperates with other engine makers such as General Electric (GE.N), Pratt & Whitney (UTX.N) and Rolls Royce (RR.L).

MTU, which aims to post annual sales of about 2.6 billion euros ($3.9 billion) this year, plans to make acquisitions itself to boost its share of engine projects. Currently, MTU typically has a 10-20 percent share of projects, it said.

MTU could spend between 500 million and 1 billion euros on purchases, but none are planned at the moment, Behle said.

"If we see a good opportunity, we will act immediately. But 2010 is probably too early," he said.

Behle reiterated that he did not expect to need to make further provisions for Airbus' (EAD.PA) delayed A400M military transporter project. The company has already set aside about 44 million euros to cover potential risks from the project.

"The A400M programme is economically not making us very happy," Behle said.

Finally due to make its maiden flight next month, the A400M has been delayed by three to four years by engine snags and other problems. Officials from the seven countries that have ordered a total of 180 A400Ms are set to meet on Dec. 2 to discuss the way forward, following media reports of ballooning prices.

A consortium that includes MTU, Rolls-Royce (RR.L) and France's Safran (SAF.PA) is building the A400M's massive turbo-prop engines. Airbus has said that hitches in the development of the A400M are largely to blame for delays.

MTU and other suppliers could face penalties related to the project, but no decision has been made yet.

"We cannot rule out claims for damages by Airbus. But it is not clear that the engine makers are at fault," he said. (Reporting by Peter Mausgahen, Writing by Maria Sheahan) ((maria.sheahan@thomsonreuters.com; +49 69 7565 1286; Reuters Messaging: maria.sheahan.thomsonreuters.com@thomsonreuters.net)) ($1=.6699 Euro)