euro adhoc: A-TEC Industries AG
Mergers - Acquisitions - Takeovers
A-TEC
Industries AG acquires Gindre Duchavany S.A.
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
21.03.2007
A-TEC Industries AG acquires Gindre Duchavany S.A.
Minerals & Metals GmbH, a wholly owned subsidiary of international industrial group A-TEC Industries AG, Vienna, (ISIN AT00000ATEC9), today signed an agreement to acquire 100% of Gindre Duchavany S.A., France.
The purchase price was not disclosed. Closing is expected to take place in a few weeks, when approval by the relevant competition authorities has been received.
Both the seller and the purchaser are in agreement that the considerable synergies resulting from the new grouping, combined with the global presence of A-TEC Group, will contribute to the continuing long-term stability of the Gindre Group.
Gindre Duchavany is among Europe's leading producers of semi-finished copper products (bars, rods and shapes), together with parts and components for the electrical industry, and is headquartered in Lyon. In 2006 it had 450 employees and sales in excess of EUR 300m. Gindre Duchavany has additional production facilities in France, Germany, Spain, the UK and the USA, and, together with local partners, a distribution network in Asia.
A-TEC Group's most recent acquisition will be merged into the Minerals & Metals Division, of which Montanwerke Brixlegg forms the core. Gindre Duchavany's electrical engineering components are an ideal fit to the existing business, and will round out the Division's product portfolio.
About A-TEC Industries Vienna listed A-TEC Industries AG is a Vienna-based international industrial group with successful operations in drive systems, plant engineering, machine tools and metallurgy. The Group currently employs around 11,000 people, and the preliminary results for 2006 show sales revenues of EUR 1.6 bn.
About Montanwerke Brixlegg AG Montanwerke Brixlegg Aktiengesellschaft is based in Brixlegg in Tirol. Its sales for financial 2006 were EUR 506.1m. (preliminary results). In 2006 it employed around 280 people at Brixlegg, and about 270 people at Krompachy in Slovakia.
end of announcement euro adhoc 21.03.2007 18:13:11
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