Page 2/2

ATec

Kovats Stays On as CEO of A-Tec

The restructuring plan for the insolvent A-Tec has been approved by the shareholders. Due to the lack of an alternative, Kovats stays.

February 12, 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 Sells AE&E India

The insolvent Austrian group belonging to Mirko Kovats is being gradually separated from its stakes. AE&E India goes to the Korean Doosan.

January 19, 2011

A-Tec Sells Subsidiary in Germany

Austrian A-Tec Industries AG has agreed to sell the German Doerries Scharmann group.

January 18, 2011

Increase of Payment Difficulties for Austria’s Private Households

Estimated 270,000 Austrian households are currently facing financial difficulties and are not able to serve credit sufficiently.

January 14, 2011

Kovats also Suffers Private Plight

The chairman of the insolvent A-Tec, Mirko Kovats, has to grant Raiffeisen liens on his personal properties

December 31, 2010

Creditors Wish Kovat´s Retreat

The creditors of the insolvent Austrian technology Group A-Tec prefer Mirko Kovats to retreat from his position as CEO.

December 30, 2010

A-Tec: Restructuring Plan Accepted

The survival of the Austrian A-Tec is provisionally secure. An investor has to be found until mid-year.

December 30, 2010

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

Kovats Remains CEO of A-Tec for the Time Being

Despite the resignation offer to the creditors Mirko Kovats, majority owner and founder of bankrupt A-Tec, stays on as CEO.

December 6, 2010

Andritz Purchases and Restructures AE&E Austria

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

December 3, 2010

A-Tec in the Red

The insolvent Vienna Stock Exchange listed company undergoes sales declines and a negative EBIT.

November 30, 2010

A-Tec: Kovats’s Prestige Projects on the Brink

Due to the insolvency of the A-Tec Group. founder and CEO Mirko Kovats will have to give up prestigious projects such as his A-Jet.

November 29, 2010

Insolvency of AE&E

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

November 26, 2010

AE&E: Next Insolvency is Coming Up

A subsidiary of the insolvent AE&E group in Raaba is negotiating with the Styrian plant manufacturer Andritz. They have time until Friday.

November 25, 2010

AE&E Files Insolvency Application

After weeks of negotiations between AE&E's creditor and the banks, no continuation is possible. Talks ended without reaching an agreement.

November 24, 2010

AE&E: Survival Less Likely Every Moment That Goes By

While the participants at the negotiating table constantly change, bankruptcy is imminent. An A-Tec without AE&E is now being worked on.

November 22, 2010

A-Tec: New Hopes with Ronny Pecik?

Pecik, a former associate of Kovats might get again into A-Tec. Several years ago, the investors separated because of differences.

November 17, 2010

AE&E: Staff asks for continuity concept

The staff of A-Tec's subsidiary AE&E (Austrian Energy & Environment) call on the negotiators in the restructuring process to ensure continuity.

November 17, 2010

AE & E: No Agreement on Sale Talks

No agreement could be reached with the interested party from Hong Kong. The search for a buyer is under intense pressure of time.

November 16, 2010

A-Tec Subsidiary: Negotiations with Banks have Failed

The Kreditorenschutzverband (KSV, Creditors Protection Association) has confirmed that negotiations have failed. The Styrian AE&E is to be sold.

November 15, 2010

AE&E: New Details on Negotiations

Negotiations over the troubled A-Tec's subsidiary AE&E continue, but they get an unexpected sideshow.

November 12, 2010

A-Tec: No Agreement Yet

According to the boss of the Kreditorenschutzverbandes (KSV, Creditor Protection Association), Hans-Georg Kantner, there will still be no solution on today Monday. Negotiations are still underway.

November 8, 2010

A-Tec: Compromise Between Banks and Creditors

The creditors of the ailing industrial group A-Tec have been able to reach a compromise with the banks to provide further financing for the Group.

November 5, 2010

A-Tec: Financing Only Secured Until January

The plan of the creditors' committee was rejected. The Banks are consulting with each other for the financing of the ailing A-Tec group, after which the creditors’ committee will present a new proposal to the credit institutions.

November 2, 2010

A-Tec: Banks Working on Counter-Proposal

After the fruitless negotiations, the banks plan to draw up a counterproposal. In addition, a British investor is showing interest in joining.

October 30, 2010

Kovats in Distress: Rescue Package Must Stand Firm by Monday

The coming days are of utmost relevance for Mirko Kovats’s insolvent A-Tec Group. The rescue package must be ready by Monday.

October 29, 2010

A-Tec Restructuring: Kovats Hands Over 25.1%

The banks inject new money into the insolvent company; Kovats has no longer the majority. If restructuring fails, the banks have realization authority.

October 28, 2010

A-Tec: Will 100 Million be Given Up by the Creditors?

The creditors' committee deliberates today on how the company will continue existing. Mirko Kovats, founder and CEO of the company, wants to make a "substantial contribution" to the issue.

October 27, 2010

A-Tec Creditors: Minimum Rate Too Low

While an early agreement with the banks seems imminent, the legal minimum quota offered to the creditors of the insolvent A-Tec group is not enough. Staff’s resentment is also being felt.

October 22, 2010

A-Tec - Creditors are Demanding more Money

Against the minimum quota of 30 per cent offered by Mirko Kovats 30 resistance is forming. A-Tec announced that the negotiations of the daughter AE & E are well underway on renewal of the credit facility.

October 22, 2010

A-Tec Offers a 30% Quota

CEO Kovats is trying to rehabilitate his insolvent company with the help of creditors.

October 21, 2010

Bond Refinancing Collapsed: A-Tec Starts Insolvency Proceedings

After several problems with the refinancing of its corporate bond, A-Tec decides to start a restructuring.

October 20, 2010

A-Tec Wins Major Contract for Project in England

A project in Australia is currently bringing A-Tec financial problems. A new project, however, offers prospects of success.

October 19, 2010

A-Tec CEO Kovats: Refunding After 2nd November Possible

“There will be a solution.” Discussions with investors continue.

October 18, 2010

A-Tec - Franz Fehringer appointed as CFO

Franz Fehringer, head of the Treasury and Accounts Department, and a member of the management team, has been appointed as the group´s Chief Financial Officer.

September 27, 2010

A-Tec has Good Prospects on Shipping Company in Rijeka

The Croatian Competition Agency (ATZN) gives the Austrian A-Tec group under Mirko Kovats good chances in the bid for the privatization of the shipyard "3 Maj" in Rijeka.

September 24, 2010

A-Tec's Subsidiary AE & E: CFO Brandt Moves to Sulzer

AE & E’s CFO, Juergen Brandt, will be CFO of the Swiss industrial group Sulzer. Jürgen Boggild moves to the Board.

September 20, 2010

A-Tec Industries announces changes on Management Board

Christian Schrötter, CFO, today informed the company´s Supervisory Board of his decision not to extend his contract.

July 21, 2010

A-Tec wants private bonds.

Denomination of €1000 - termination, at violation of certain ratios The A-Tec intends to target private investors with their planned five-year bond (subscription period from June 1 to July 5). The nominal value amounts to €1000 ($1223). The expiring A-

June 30, 2010

A-Tec Industries AG to float corporate bond

A-TEC Industries AG is currently in preparations to issue a corporate bond.

June 28, 2010