October 22, 2007 -- Austrian listed industrial holding A-Tec Industries AG of investor Mirko Kovats has completed the acquisition of German toolmaker Doerries Scharmann Technologie and of 90 % in industrial boiler maker Deltak Power Equipment China Co. Ltd. after obtaining approval from the local anti-trust authorities, A-Tec said. DST will complement A-Tec's machinery construction division, while Deltak Power will strengthen the holding's presence in China.
Previously owned by German private equity firm Deutsche Beteiligungs, DST is considered a leading maker of special machine tools for the automotive engineering, machine building, aerospace and energy engineering sectors and employs some 700 persons. DST will be integrated in A-Tec's machine tool unit Emco and is to contribute positive results to A-Tec's balance sheet from the fourth quarter of 2007. The new German subsidiary is expected to generate a turnover of $201.4 mln in 2007.
Deltak Power, which registered a $20 mln turnover in 2006, will become part of the Austrian holding's largest division, Austrian Energy & Environment, and will be renamed to AE&E Nanjing Boiler Co. Ltd. The Chinese company specializes in industrial and waste heat boilers and is to secure A-Tec new market potential in the energy and environment sectors. A-Tec now has an important competitive advantage with efficient boiler production sites in Croatia, India and China.
With the recent acquisitions of French copper processing specialist Gindre Duchavany S.A., UK Laurence Scott & Electromotors and David McClure the A-Tec holding has secured new capacities, which are to trigger further growth of its plant construction and machinery engineering divisions.
Source: APA Economic News Service
