A-Tec Sells AE&E India

IndustrialsIndustrial Goods ♦ Published: January 19, 2011; 00:20 ♦ (Vindobona)

The insolvent Austrian group belonging to Mirko Kovats is being gradually separated from its stakes. AE&E India goes to the Korean Doosan.

A-Tec Sells AE&E India / Picture: © A-Tec

Last week, A-Tec sold a division of the Emco subsidiary, the German Dörries Scharmann for € 70m. The sales in the A-Tec Group continue now in stages.

AE&E, in turn a division of A-Tec Group sells the Indian AE&E  subsidiary Chennai Works Ltd.. The buyer is South Korea's Doosan group, a conglomerate in the plant construction industry. Doosan had already been rumored in…