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Andritz to acquire assets of General Electric´s Hydro business

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
02.05.2008
Graz, 2 May 2008.  International technology group Andritz and General
Electric Company (GE) have reached an agreement for the purchase of 
certain assets of GE Energy´s Hydro business. The closing of the 
transaction, which is subject to approval by anti-trust authorities, 
is expected to take place during the next few months. Financial terms
were not disclosed
As part of the transaction, Andritz will acquire GE Energy´s hydro 
power technology and certain other assets, including engineering and 
project management resources, research and development capabilities, 
and specialized generator component production facilities in Canada. 
These activities have a total staff of approximately 200 employees.
For the Andritz Hydro Power Business Area, the assets of GE´s Hydro 
business will further complement the existing product portfolio in 
the field of large Francis-type turbines and generators with output 
capacity of 400 MW and more. In addition, as a result of this 
acquisition Andritz expects to increase its hydro power presence in 
North America and in fast growing emerging markets.
- End -
The Andritz Group The Andritz Group is a global market leader in the 
supply of customized plants, systems, and services for the pulp and 
paper industry, the hydropower industry, the steel industry, and 
other specialized industries (solid/liquid separation, feed, and 
biofuel).  Headquartered in Graz, Austria, the Group has about 12,000
employees worldwide.  It manufactures and sells its products and 
services globally.
Andritz VA TECH HYDRO Andritz VA TECH HYDRO is a globally leading 
supplier of electromechanical systems and services ("water-to-wire") 
for hydropower plants.
About General Electric (GE) GE is a diversified technology, media and
financial services company offering products and services ranging 
from aircraft engines, power generation to business and consumer 
financing, medical imaging, and media content.  GE serves customers 
in more than 100 countries and employs more than 300,000 people 
worldwide.
end of announcement                               euro adhoc

Further inquiry note:

Dr. Michael Buchbauer
Head of Investor Relations
Tel.: +43 316 6902 2979
Fax: +43 316 6902 465
mailto:michael.buchbauer@andritz.com

Branche: Machine Manufacturing
ISIN: AT0000730007
WKN: 632305
Index: WBI, ATX Prime, ATX
Börsen: Wiener Börse AG / official dealing

Plus de actualités: Andritz AG
Plus de actualités: Andritz AG