Reporting figures yesterday, Landis & Gyr AG, under offer from Elektrowatt AG, said it was looking for a partner to help it further develop its new telephone Smart Card business: the market is growing quickly worldwide and Landis & Gyr could boost its market position with an alliance, it said. The Smart Card business is part of Landis & Gyr’s Communication division which accounted for $287m in revenue last fiscal. The company expects overall net profit this fiscal to be stable or higher than last year’s $93.4m equivalent. Board chairman Georg Krneta said the Gyr family had not finally decided whether to sell its 5% stake to bidder Elektrowatt AG, but believed the offer was positive.
