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ATec
A-Tec: Quota Reaches 39%
The insolvent A-Tec Group pays out the insolvency quota next week.
November 7, 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
A-Tec´s Quota to Reach 30%
In July, the insolvency quota of A-Tec will be paid to creditors. The quota will range from 30% to 35%.
February 10, 2012
Sale of Brixlegg Concluded
The former copper-division of the insolvent Austrian A-Tec Group has been sold to the Swiss Umcor AG.
February 10, 2012
Emco With Growth Plans
The new owner of the former A-Tec subsidiary, now can begin to realize its expansion plans.
December 27, 2011
Kuhn Holding Buys Emco
A purely Austrian solution was found for the former A-Tec subsidiary. The Austrian mechanical engineering company is acquired by Kuhn Holding.
December 21, 2011
Many Applicants in Emco Sale
The Austrian mechanical engineering company, which is a subsidiary of the insolvent A-Tec group, is highly sought-after. The sale price is estimated to reach € 30m.
December 19, 2011
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
Interest for A-Tec Subsidiary Brixlegg
The copper segment of the insolvent Austrian A-Tec group could find a new owner soon. An Austrian aluminum trader intends to purchase Brixlegg.
November 26, 2011
A-Tec: Investigations Against Kovats
Investigations by the Austrian Public Prosecution Authority against the CEO of A-Tec, Mirko Kovats, proceed. The suspicions are massive.
November 19, 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
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
A-Tec: Investors Call Kovats to Resign
The founder and CEO of the Austrian technology group A-Tec Mirko Kovats comes under fire. Wilhelm Rasinger from the Austrian investor´s representation asks Kovats and the liquidator Matthias Schmidt to step down.
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
A-Tec to be Dissolved
The Austrian technology company, which should have been sold as a whole, could not find a buyer. The remaining assets will now be offered separately.
October 1, 2011
A-Tec: Kovats Cancels Sale to Contor
The Austrian conglomerate needs another € 90m in order to fulfill the restructuring plan. A new general meeting will be held.
September 28, 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 Sale: Penta Sues
The Czech-Slovak investment consortium Penta, which made a bid in the A-Tec sale, sues against the award for the competitor Contor Industries.
September 20, 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
A-Tec: Kovats to Step Back by Year-End
The CEO of the insolvent Austrian group wants to finalize the deal with an investor before resigning from his position. Negotiations with Penta have been suspended.
September 1, 2011
A-Tec: Supervisory Board Postpones Decision to September
A decision on the sale of the insolvent conglomerate will not be taken before 2 September. Penta Investments is irritated by the offer of a competing bidder.
August 26, 2011
Kovats with New Plans for A-Tec
According to a new proposal, Penta Investments should only take over part of the Austrian conglomerate. CEO Kovats has submitted an own offer with financial support from a Pakistani billionaire.
August 24, 2011
Further Delay in Sale of A-Tec
The group’s supervisory board has asked for expert advice on the sales process. A decision might be taken at the end of August.
August 18, 2011
Positive Half-Year Results for A-Tec
The Austrian conglomerate achieved a net profit of € 24.6m in the first six months of the year. Revenue increased by 15.8%.
August 11, 2011
Sale of A-Tec Imminent – Mirko Kovats Attacks Politicians and Banks
The Austrian conglomerate’s negotiations with investors are about to be concluded. CEO Kovats criticized banks for being “no help in securing jobs”.
August 11, 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
Penta Is Extending Offer for A-Tec
The Czech-Slovak investment group has affirmed its interest in a takeover of the Austrian conglomerate and extended the validity of its offer.
July 28, 2011
House Searches at A-Tec’s Management
Serious allegations have been made against Board Members of the Austrian conglomerate which is currently negotiating with potential investors. Eight houses have been searched.
July 20, 2011
A-Tec: Kovats Wants to Stay on Board
CEO Mirko Kovats does not want to give up control over the Austrian conglomerate. He is trying to push through a sale to his favorite bidder which would give him a role in the group.
July 15, 2011
A-Tec Received Binding Offers from Investors
Investors will need at least € 210m in order to fulfill the payout plan. Up to five potential buyers were still interested in an acquisition.
July 1, 2011
Five Investors Still Interested in A-Tec
A-Tec boss Mirko Kovats has to find a buyer for his insolvent group by June 30. Investors will need at least € 225m in order to fulfill the payout plan.
June 24, 2011
Bilfinger Berger to Acquire Subsidiary of AE&E
The Czech subsidiary of the insolvent plant manufacturer will become part of the German construction group Bilfinger Berger.
June 20, 2011
Record Loss for A-Tec in 2010
The insolvent company reported a loss of € 585m. Nonetheless, CEO Kovats sees a positive development and remains optimistic.
June 15, 2011
Penta Investments Interested in A-Tec
Time is pressing. A decision has to be made by the end of June.
May 27, 2011
Signs of Recovery at A-Tec
The insolvent company showed a satisfactory development in all divisions in the first quarter.
May 13, 2011
A-Tec Restructuring Plan Confirmed
With a quota of 47%, the restructuring plan of the insolvent A-Tec was confirmed.
May 12, 2011
A-Tec: Coal Power Plant Will Not Be Converted
The insolvent company pulls back from its request to convert the Styrian power plant Voitsberg III. The total investment would have amounted to € 100m.
May 4, 2011
Interest in Acquiring A-Tec
The Austrian restructurer Erhard Grossnig is interested in acquiring parts of the insolvent A-Tec Group.
April 22, 2011
ATB in Severe Turbulences
Losses of the Austrian A-Tec subsidiary will probably exceed half of the share capital.
April 22, 2011
A-Tec: Restructuring With Success Prospects
The insolvent A-Tec Group might actually succeed in completing its reorganization. An investor has yet to be found by the end of June.
April 7, 2011
Major Order from China for Emco
The A-Tec's subsidiary Emco has receaved an order from China for € 7m.
March 8, 2011
AE&E Quota only 5%
The largest division of the insolvent Austrian technology group A-Tec is likely to offer only very little to its creditors.
February 17, 2011
ATB: Contradictions on Rumored Layoffs
A-Tec's subsidiary ATB denies media reports about alleged dismissals at the Styrian location.
February 13, 2011
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