euro adhoc: VA Technologie AG
VA TECH sells the WABAG location in
Ravensburg (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Another important steps towards achieving the WABAG target structure. The listed VA TECH has revealed the sale of WABAGs Fluidised Bed Business Area to the Andritz technology group. In 2003, this Business Area, which is located in Ravensburg, Germany, achieved sales revenues of EUR 15-20 m with a sales force of around 50. Confidentiality has been agreed regarding the selling price, but subject to approval by the anti-trust authorities, the contract should take effect at the end of October 2004. Following the divestment of the WABAG business units in Germany and France (as announced at the Groups half-year result press conference on August 26), this sale constitutes a further significant advance towards achieving the WABAG target structure. This structure foresees a concentration at the locations in Vienna (for international project business) and Winterthur (biolfitration competence centre, Switzerland), with a work force of around 150. This new structure will be in position by the end of the current year.
Vienna, September 3, 2004
end of announcement euro adhoc 03.09.2004
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