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ATB
ATB Enhances Profitability
In the first half year, the Austrian engineering company increased the net income and recorded stable revenues. However, the rising net result was due to the shutdown of a part of ATB´s business segments.
August 25, 2012
New CEO at ATB
Andreas Schindler is the new Chief Executive Officer of the Wolong-owned ATB Austria Antriebstechnik.
July 4, 2012
Last Financial Statement at A-Tec
The Austrian insolvent A-Tec Industries AG published its last financial statement. In 2011, A-Tec´s net income reached minus € 344m.
June 18, 2012
Schmidt Retires as CEO of ATB
ATB Austria Antriebstechnik AG Christian Schmidt retires as CEO of the ATB Austria Antriebstechnik and joins the Supervisory Board of the Company Vienna, June 8, 2012.
June 8, 2012
ATB Records Mixed Results
In spite of stagnating revenues the Austrian subsidiary of Wolong Group recorded an increase of 50% in operating results. Net income was down, though.
May 11, 2012
ATB Achieved Turnaround
Sales of the Austrian motor producer were up by 10%. Operating profits rose to € 45.2m after € -88.2m in 2010.
April 30, 2012
Wolong Wants ATB to Become World Market leader
The Chinese Wolong Group, which took over ATB last year due to A-Tec´s insolvency, has big plans for the engine producer.
March 24, 2012
Expansion of the Board of ATB
The Management Board of ATB Austria Antriebstechnik AG was enlarged: the British national Ian Lomax becomes Chief Operating Officer.
February 21, 2012
Wolong Holds 98.8% in ATB Austria
The Chinese Wolong Group has almost finished its complete takeover of the former A-Tec subsidiary ATB.
December 13, 2011
ATB Posts Loss due to Court Ruling
The former subsidiary of A-Tec lost a lawsuit and has to pay € 13.4m. EBIT amounted to € 6.1m in the period July to September.
November 11, 2011
Kovats Complains against Court Order
A-Tec’s outgoing CEO challenges a court decision as he sees an infringement of his property rights.
November 3, 2011
Sale of A-Tec Problematic
The insolvent Austrian A-Tec corporation, which is currently being dissolved, faces several problems. The sale of the remaining subsidiaries Brixlegg and Emco could be delayed.
November 2, 2011
Chinese Companies Looking for Investment Opportunities in Austria
China’s President Hu Jintao comes for a state visit and is accompanied by a 160-member business delegation.
October 28, 2011
A-Tec: Kovats to be Replaced
Mirko Kovats, CEO of the Austrian A-Tec, will be replaced from his positions in order to avoid further “disturbances”.
October 22, 2011
ATB Sold to Chinese Wolong Group
The Austrian ATB company, a former subsidiary of the insolvent A-Tec Group, goes to the Chinese engineering corporation Wolong.
October 19, 2011
ATB is Optimistic to Find a New Buyer
The subsidiary of the insolvent A-Tec corporation is looking for a new owner. Now, it is important to find a quick solution.
October 10, 2011
Penta Bids for A-Tec Again
The Czech-Slovak group is still interested in an acquisition of the insolvent Austrian conglomerate and has now submitted a new offer.
October 7, 2011
Kovats Blames Creditors and Penta
Mirko Kovats, CEO of the A-Tec group, makes the Czech investment group Penta and the banks responsible for the failed restructuring plan
October 4, 2011
Dispute Over A-Tec´s Liquidation
After the Sale of the insolvent Austrian A-Tec has failed, the subsidiaries will be sold separately. Austrian politicians warn of the loss of jobs, technology and tax revenue.
October 3, 2011
Chinese Interest for ATB
After the collapse of the takeover of A-Tec, the subsidiary has to be sold separately. The Chinese Wolong group plans to acquire the Austrian automotive company.
October 1, 2011
Sale of A-Tec on the Brink of Failure
The Supervisory Board of the insolvent technology group wants to take up negotiations with Penta Investments again after a Pakistani investor pulled out of the deal.
September 22, 2011
A-Tec Accepts Offer of Contor Industries
After several months of negotiations a decision has been made: The group will be split up, ATB and Montanwerke Brixlegg will be sold to foreign investors.
September 5, 2011
ATB Returns to Profitability
The subsidiary of the insolvent A-Tec group achieved an increase in revenue of 18% in the first half of the year. EBIT turned positive to € 9.9m.
August 10, 2011
A-Tec Restructuring Plan Confirmed
With a quota of 47%, the restructuring plan of the insolvent A-Tec was confirmed.
May 12, 2011
ATB in Severe Turbulences
Losses of the Austrian A-Tec subsidiary will probably exceed half of the share capital.
April 22, 2011
ATB: Contradictions on Rumored Layoffs
A-Tec's subsidiary ATB denies media reports about alleged dismissals at the Styrian location.
February 13, 2011
A-Tec: Bad News from China
Because of a joint venture gone insolvent in China in 2008, there are unpaid claims for about € 15m against the Austrian A-Tec.
February 8, 2011
A-Tec: Significant Increase of Quota is Probable
According to what is being heard about the negotiations of the creditors, it is clear that the quota should be increased. The vote on the restructuring plan takes place on Wednesday.
December 28, 2010
Critical Phase for A-Tec
Next Wednesday the insolvent company’s restructuring plan will be submitted. Afterwards, there will remain two weeks remain for the adoption of the concept.
December 28, 2010
A-Tec Has to Divest Itself of Holdings
In the course of restructuring, several holdings of the insolvent conglomerate are sold in order to achieve an appropriate quota.
December 20, 2010
A-Tec Quota Too Low for Creditors
The group has not defined an overall quota yet. What is certain, however, is that the current offer will be too low for the creditors.
December 17, 2010
ATB Group Still Records Losses
The A-Tec division ATB publishes its results for the first nine months: declining sales and losses.
December 14, 2010
Kovats Has to Increase Quota
The remaining divisions of the insolvent A-Tec Group are being valued. Kovats will not be able to avoid an increase of the quota for the creditors.
December 8, 2010
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