Alstom sells division to Austrian Energy & Environment

25 October 2005 – Austrian Energy & Environment is to acquire significant parts of the Industrial Plants and Boilers division Alstom had put up for sale in response to an EU directive.

The division had a reported turnover of around €400m ($479m) in 2004 and currently employs 450 people at locations in Germany, the Czech Republic and Australia.

Christian Schmidt, CEO of Austrian Energy & Environment, said: “The operations at the locations in Germany lead the field in the area of waste incineration, optimally complementing the product portfolio of our Swiss subsidiary Von Roll, whilst the locations in Australia and the Czech Republic are perfect partners for AE&E in Graz.”

If the acquisition is approved by the Cartel Commission at a meeting in December the annual turnover of the Austrian company would rise to €850m, making it the third largest plant manufacturer in Europe.

No details of the purchase price were disclosed, but a statement from Austrian Energy highlighted that the company had been successful in its bid due to its ‘sustained management concept’ for the employees.