euro adhoc: VA Technologie AG
VA TECH T&D sells subsidiary Reyrolle
Pacific based in New Zealand (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Following its strategy of focussing on core businesses, VA TECH Transmission&Distribution announces the sale of the switchgear manufacturer Reyrolle Pacific, a hundred percent subsidiary of T&D, to Transformer Winding Services. Reyrolle Pacific is based in Wellington, has 60 employees and earned 11,8 million EUR in 2003. Transformer Winding Services is a transformer company in New Zealand with its headquarters in Christchurch and, with this acquisition, continues to strengthen its position on the Australian electricity market. Concerning the purchase price both companies agreed upon silence.
end of announcement euro adhoc 15.07.2004
Further inquiry note:
Bettina Pepek
Press Officer
Tel: 0043 1 89 100 3400
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