Winhold pursues acquisitions despite takeover target status
INDUSTRIAL supplies specialist Winhold — often viewed as a possible takeover target by bigger conglomerates — looks determined to make strategic acquisitions this year.Writing in Winhold’s recently released annual report, CEO Wietsche Fourie said the firm was looking for acquisitions in its core business areas and in key strategic growth areas.The company comprises two main divisions — Inmins, which supplies specialised equipment to the mining and industrial sector, and Gundle, a plastic sheeting manufacturer.The reference to possible acquisitions is interesting since Winhold is trading under a cautionary that relates to a non-binding expression of interest to acquire the company.Winhold has long been regarded as a takeover target as its share price, which has increased markedly since the cautionary was published, has long discounted its tangible net asset value (NAV).Winhold holds a NAV of about 228c per share, which is double the ruling share price.No further detail was provided o...
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