Insolvency of AE&E

IndustrialsIndustrial Goods ♦ Published: November 26, 2010; 13:38 ♦ (Vindobona)

No agreement over the purchaser of the AE&E subsidiary could be reached. However, Andritz is still considered as a prospective buyer.

Insolvency of AE&E / Picture: © AE&E

AE&E Austria GmbH & Co KG has filed the insolvency application before the KSV (Credit Protection Association) as already expected. The plant constructor with seats in Styria and Vienna, will tread the path of restructuring, as previously the whole A-Tec and the parent company AE&E Group. Liabilities amount to € 227 million, and approximately 380 employees and 600…