VIENNA, Austria, February 26 /PRNewswire/ --
- Shareholder Information
- Plant Construction Division Strengthens Position on British Growth Market
- UK Waste-to-Energy Facility Order Books Over EUR 160 Million
- Further UK Orders Worth Some EUR 370 Million Expected
Austrian Energy & Environment (AE&E) - the plant construction division of Vienna listed A-TEC Industries (ISIN AT00000ATEC9) - today announced the takeover of Newport based British installation, erection and associated services company Mechanical Installations International Limited (MII). The purchase price for the transaction, which was completed on 25 February, 2008, was not disclosed.
MII specialises in the installation, erection, maintenance, and repair of machinery, plant, equipment, steelwork and associated services, and operates across Europe. Founded in 1984, the company is highly profitable, and its 110-strong workforce generated EUR 21 million (m) in revenue in 2007.
The background of the transaction is driven by the rapid growing of the UK energy market, especially in the waste to energy segment. The AE&E Group holds an extremely strong position in the British market for the turnkey construction of waste to energy plants. AE&E's Swiss subsidiary Von Roll Inova currently has order books for such plants worth over EUR 160m, while the AE&E Group's total UK order backlog stands at EUR 500m.
Adding MII to its line-up gives the AE&E Group a strong, well established partner for its British expansion plans. The acquisition will also bolster AE&E's expertise as a full-line supplier, enabling it to provide waste incinerator maintenance and associated services via a local subsidiary, as well as plant erection, installation and commissioning.
"MII has a strong position in its markets. It enjoys an excellent reputation with its customers and suppliers, and has extensive experience of managing plant engineering projects," said A-TEC Industries Management Board member Christian Schmidt, commenting on the takeover. Austrian Energy & Environment CEO Georg Gasteiger noted: "The know-how of the new employees will be a big help to AE&E in executing major upcoming projects in the UK. Their expertise will also provide a good springboard for the expansion of our service and maintenance business, while the additional capacity will help underpin our future growth."
About A-TEC Industries AG
Vienna listed A-TEC Industries AG is an international industrial group headquartered in the Austrian capital, which operates through thriving Drive Technologies, Plant Construction, Mechanical Engineering and Metals Industry divisions. The group currently employs around 13,500 people, and in 2006 posted revenues of EUR 1.6 billion.
For more information visit http://www.a-tecindustries.com
Austrian Energy & Environment
Austrian Energy & Environment AG, headquartered in Vienna, Austria, is one of the leading international suppliers of thermal generation and environmental systems. The group's product portfolio includes boilers and boiler plants, gas purification systems, waste to energy plants, turnkey biomass and industrial plants, coal gasification units, valves, and services ranging from engineering and modernisation to modification and plant operation. The group employs some 4,700 people in Vienna and Graz (Austria), Zurich (Switzerland), Cologne, Ratingen and Nuremberg (Germany), Brno (Czech Republic), Paris (France), Bilbao and Madrid (Spain), Slavonski Brod (Croatia), Moscow (Russia), Norcross (USA), Shanghai and Nanjing (China), Chennai (India), Sao Paulo (Brazil) and Sydney (Australia). It is owned by A-TEC Industries AG.
For more information visit: http://www.aee-group.com
Von Roll Inova Holding AG
With around 1,700 employees and over 350 completed facilities to its name, Von Roll Inova is a world leader in waste-to-energy technology. It offers custom modular and one-step services ranging from planning, engineering, construction and operation through to maintenance and auditing of complete plants. Headquartered in Zurich, Von Roll Inova has branches in France, Japan, Sweden, China and the USA.
For more information visit: http://www.vonrollinova.ch Contact: Gerald Wechselauer Head of Investor Relations A-TEC Industries AG Wächtergasse 1, A-1010 Vienna Tel: +43(0)1-22760 direct dial 130 Mobile: +43(0)664-6104475 E-mail: gerald.wechselauer@a-tecindustries.com http://www.a-tecindustries.com
Contact: Gerald Wechselauer, Head of Investor Relations, A-TEC Industries AG, Wächtergasse 1, A-1010 Vienna; Tel: +43(0)1-22760 direct dial 130, Mobile: +43(0)664-6104475, E-mail: gerald.wechselauer@a-tecindustries.com
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