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A-TEC Industries AG

euro adhoc: A-TEC Industries AG
Mergers - Acquisitions - Takeovers
A-TEC Industries announces breakdown of talks on RTB Bor acquisition

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
04.04.2008
A-TEC Industries today announced that no agreement has been reached 
with the Serbian Agency for Privatization on the acquisition of the 
Rudarsko-topionicarski kombinat Bor (RTB Bor) copper mine. A-TEC was 
prepared to make a substantial part-payment amounting to most of the 
purchase price but this was rejected by the agency.
A-TEC originally agreed to pay a total of USD 514.119 million (m) for
RTB Bor, comprising the purchase price of USD 466m and USD 48.119m 
for current assets. On 7 February A-TEC made an interest bearing down
payment of USD 150m on to a fiduciary account, and provided a bank 
guarantee of USD 10m.
Today A-TEC offered to pay substantial additional funds for the 
purchase, namely USD 230m, consisting of USD 70m from its own funds 
and 160m in the form of a loan from the consortium of banks, as well 
as 60m as an additional, contractually agreed bank guarantee in order
to complete the transaction.
The current credit squeeze due to the international financial crisis,
coupled with current political instability in Serbia, has severely 
hindered A-TEC´s efforts to arrange finance for the purchase of RTB 
Bor. The bank consortium which originally took on the role of lead 
arranger has decided not to finance any projects in Serbia until the 
end of the year.
An additional problem which has arisen in the past two days is a USD 
65m lawsuit brought by Greek company Mytilineos against RTB Bor. 
Mytilineos has called on A-TEC to pay it this amount.
A-TEC Industries Vienna listed A-TEC Industries AG is an 
international industrial group, headquartered in Vienna, with 
thriving Drive Technologies, Plant Construction, Mechanical 
Engineering and Metal Industry divisions. The Group currently employs
around 13,800 people, and the preliminary results for 2007 show 
revenue of about EUR 2.4 billion.
end of announcement                               euro adhoc

Further inquiry note:

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
www.a-tecindustries.com

Branche: Holding companies
ISIN: AT00000ATEC9
WKN:
Index: ATX Prime
Börsen: Wiener Börse AG / Regulated free trade

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