VA Technologie AG

euro adhoc: VA Technologie AG
Mergers - Acquisitions - Takeovers / VA TECH T&D acquires 40 percent share from joint venture with Schneider Electric (E)

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VA TECH Transmission & Distribution (VA TECH T&D), a subsidiary of
the listed VA TECH and Schneider Electric have announced today the
transfer of the 40% stake in the High Voltage joint venture held by
Schneider Electric to VA TECH T&D.
In October 2000, VA TECH T&D and Schneider Electric signed a
cooperation agreement through which each company contributed their
high voltage equipment business as of        January 1, 2001 to a
jointly owned company, VA TECH Schneider High Voltage. VA TECH T&D
and Schneider Electric respectively owned a 60% and 40% equity stake
in the joint venture managed by VA TECH T&D. The contract includes an
option for VA TECH to acquire the 40 percent share from Schneider.
This option has now been exercised by VA TECH T&D in order to
strengthen the core business in the high voltage switchgear sector.
"The purchase of the 40 percent share from the joint venture is a
further step within the course of our corporate strategy to become
one of the leading experts in transmission and distribution", says
Klaus Brenner, chairman of the Managing Board of VA TECH T&D and
member of the Managing Board of VA TECH.
In 2003, the joint venture achieved sales amounting to EUR 620 m with
2,600 employees.
After this transaction, the Grenoble site will continue to be a major
worldwide competence center, both for the development and the
manufacturing of its core offer.
Concerning the purchase price both companies agreed upon silence.
Vienna, 2 July 2004

end of announcement            euro adhoc 02.07.2004
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Further inquiry note: Bettina Pepek Press Officer Tel: 0043 1 89 100 3400 e-mail: bettina.pepek@vatech.at

Branche: Technology
ISIN:      AT0000937453
WKN:        093745
Index:    ATX, ATX Prime, WBI
Börsen:  Wiener Börse AG / official dealing
              Berliner Wertpapierbörse / free trade
              Bayerische Börse / free trade



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