AE&E Quota only 5%

Businessn.a. ♦ Published: February 17, 2011; 03:03 ♦ (Vindobona)

The largest division of the insolvent Austrian technology group A-Tec is likely to offer only very little to its creditors.

AE&E Quota only 5% / Picture: © AE&E

The plant construction division of the A-Tec Group is in midst of insolvency proceedings, just as its parent company. Some AE&E subsidiaries have already been sold. So far, two Indian and a Croatian company were sold for a total of € 35m. The AE&E Austria subsidiary was also sold: the buyer is the plant construction group Andritz.

The quota of AE&E is estimated at…