euro adhoc: A-TEC Industries AG
Mergers - Acquisitions - Takeovers
A-TEC
Industries AG acquires German plant engineering company Lentjes
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
02.05.2007
Vienna based international industrial group A-TEC Industries AG (ISIN AT00000ATEC9) today signed an agreement to acquire 99% of the German plant engineering company Lentjes GmbH from the listed GEA Group AG. After completion of the transaction, which requires clearance from the competition authorities concerned, the company will be included in A-TEC's Plant Construction Division.
A-TEC is acquiring Lentjes for one euro, and will strengthen its capital base by injecting an amount in the lower double digit million euro range. For its part the seller will assume the risks arising from existing projects that have reached an advanced stage of completion. Following an intensive due diligence review and the seller's agreement to provide additional securities, A-TEC has agreed to assume the opportunities and risks of projects at early stages of completion.
Lentjes, based in Ratingen, Germany, is the plant engineering subsidiary of Germany's GEA Group AG - an MDAX listed company. The firm designs and constructs turnkey plants, focusing on processes, technologies and components for the fossil fuel fired industrial boilers, biomass fired power plants and waste incinerators. The Company and its subsidiaries have around 320 employees, and in 2006 generated revenue of some EUR 270m.
For A-TEC Industries the takeover of Lentjes and its integration in its largest division - Plant Construction - represents a complementary acquisition. It will extend the product portfolio of the group's energy business and provide new resources to underpin continued growth. With the acquisition of the German plant engineering company - which has an excellent reputation in the international power plant construction industry and employs outstanding engineers - A-TEC Industries will strengthen human resources in the Plant Construction Division and open up new markets for the group.
end of announcement euro adhoc 02.05.2007 18:18:28
Further inquiry note:
Pressestelle A-TEC Industries AG
Mag. Claudia Müller-Stralz
Pleon Publico Public Relations & Lobbying
Tel: +43-1-71786-107
E-Mail: claudia.mueller@pleon-publico.at
Branche: Holding companies
ISIN: AT00000ATEC9
WKN:
Index: ATX Prime
Börsen: Wiener Börse AG / regulated dealing/prime standard