euro adhoc: Andritz AG
other
Successful closing of the VA TECH Hydro
acquisition
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
01.06.2006
Graz, 1 June 2006. As announced at the beginning of April 2006, Siemens Austria and Andritz AG have signed a purchase agreement for acquisition of the hydropower section of VA TECH Hydro. Following approval by the relevant antitrust authorities, the parties have closed the transaction successfully. VA TECH Hydro will be included in the consolidated financial statements of the Andritz Group as of 1 July 2006.
"The Andritz Group looks back on many years of internationally recognized experience in water turbine design and construction. The purchase of VA TECH Hydro allows us to extend our product portfolio in this field substantially and to rise from a niche player status to that of a globally leading supplier of water turbines with a global presence", says Dr. Wolfgang Leitner, Chief Executive Officer of Andritz AG, voicing contentment with the VA TECH Hydro purchase.
About the Andritz Group Publicly listed Andritz Group is a global market leader for advanced production systems for pulp and paper, steel and other specialized industries. Andritz has about 6,000 employees worldwide. It develops and makes its high-tech systems at 30 production sites in Austria, Germany, Finland, Denmark, France, Netherlands, USA, Canada, and China.
end of announcement euro adhoc 01.06.2006 07:30:00
Further inquiry note:
Dr. Michael Buchbauer
Head of Investor Relations
Tel.: +43 316 6902 2979
Fax: +43 316 6902 465
mailto:michael.buchbauer@andritz.com
Branche: Machine Manufacturing
ISIN: AT0000730007
WKN: 632305
Index: WBI, ATX Prime, ATX
Börsen: Wiener Börse AG / official dealing
Original-Content von: Andritz AG, übermittelt durch news aktuell