A-Tec: Bad News from China

IndustrialsAutomotive ♦ Published: February 8, 2011; 02:41 ♦ (Vindobona)

Because of a joint venture gone insolvent in China in 2008, there are unpaid claims for about € 15m against the Austrian A-Tec.

A-Tec: Bad News from China / Picture: © ATB

The engine manufacturer ATB, a division of A-Tec Group, is being sued in China by the liquidator of the currently insolvent former joint venture BWC Motor. This is being reported by the daily newspaper “Der Standard”.

In 2008, ATB got out of the joint venture, but in 2009, the company became insolvent. The claims, which relate to capital subsidies allegedly promised and not…