A-Tec Subsidiary: Negotiations with Banks have Failed

Industrials › Construction ♦ Published: November 15, 2010; 11:33 ♦ (Vindobona)

The Kreditorenschutzverband (KSV, Creditors Protection Association) has confirmed that negotiations have failed. The Styrian AE&E is to be sold.

A-Tec Subsidiary: Negotiations with Banks have Failed / Picture: © AE&E

The spokesman for the creditors' committee, Hans-Georg Kantner confirmed the discontinuation of the negotiations between banks and creditors. The subsidiary of the insolvent Mirko Kovats's A-Tec group, the Styrian industrial plant manufacturer AE&E (Austrian Energy & Environment), will therefore have to be sold after weeks of negotiations which ultimately failed.

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