INTERVIEW: Bodycote Seeking Acquisitions - CEO

28th Jul 2010 10:26

By Jason Douglas Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Engineer Bodycote PLC (BOY.LN) Wednesday said it is seeking acquisitions to broaden the geographic reach of its automotive and general industrial unit and bulk up its surface technology business. Chief Executive Stephen Harris told Dow Jones Newswires Bodycote is seeking small deals for its automotive and general industrial unit but is seeking a larger deal for surface technology, which provides services like protecting the leading edge of turbine blades and protecting oil and gas drilling equipment. Bodycote specializes in heat treatment to improve the wear resistance of metals and its products and services are used in industries like making cars, aircraft and power plants. Beefing up the surface technology business would allow the company to win more business with existing customers, said Harris. He declined to be specific about how much Bodycote was willing to spend on a larger acquisition but said the company has roughly GBP100 million of bank facilities it can call on to help fund deals. -By Jason Douglas, Dow Jones Newswires; 44-20-7842-9272; [email protected] (END) Dow Jones Newswires July 28, 2010 05:26 ET (09:26 GMT)