AE&E completes further Alstom acquisitions

23 May 2006 – The German cartel authorities have approved Austrian Energy & Environment’s (AE&E) takeover of the industrial boilers and plant division from Alstom in Germany and the Czech Republic without conditions or limitations.

The two business units generated revenues of €280m ($360m) in 2005 and currently have a workforce of 300.

AE&E completed the acquisition of Alstom’s Australian industrial boiler and plant’s division in October 2005. Alstom has had to divest certain assets in order to comply with the EU’s terms imposed when it approved the rescue package offered by the French government to Alstom when the company entered difficulties in 2003.

AE&E said the new companies would enable it to develop new markets in Eastern Europe. Thermal waste to energy plants will also now receive greater focus.

Christian Schmidt, member of the AE&E supervisory board, said of the new acquisitions: “The locations in Cologne, Nuremberg and Brunn will add significant momentum to our activities. The German company has excellent technological expertise in the area of thermal waste treatment, and is therefore a perfect match for Von Roll Inova, our Swiss company.”

Following a record year of results in 2005, AE&E has reported full order books at all locations in 2006. The company has highlighted its Spanish subsidiary as one of its strongest performers with three recent major contract wins totalling over €100m.