FRANKFURT Jan 18 German industrial services
company Bilfinger agreed to buy U.S. water technology
company Johnson Screens for an undisclosed amount as part of a
strategy to drive profits through acquisitions.
Johnson Screens, until now owned by Weatherford
International Ltd, generates an annual output of 160
million euros ($213.7 million) with 1,200 employees, Bilfinger
said on Friday.
Acquisitions are one of the means Bilfinger is using to meet
its target to double net income to 400 million euros in 2016 and
raise earnings before interest, taxes and amortization (EBITA)
to 700 million euros.