Andritz Purchases and Restructures AE&E Austria

Industrials › Construction ♦ Published: December 3, 2010; 23:54 ♦ (Vindobona)

The Styrian plant builder buys the A-Tec subsidiary for rumored € 10 million. Restructuring plan is to be financed by Andritz.

Andritz acquires the insolvent AE&E Austria, a subsidiary of the AE&E Group, which in turn is part of the A-Tec group. The negotiations were concluded in just a few days, under pressure of time. Now the company is to be stabilized again. Andritz however has to provide guarantees for over 100 million euro for current projects. The Kreditschutzverband (KSV, Credit Protection…

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Insolvencies, Construction Industry, Styria, ATec, Andritz, AE & E, Restructuring, Illiquidity
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