ALSTOM signs agreements with Austrian Energy & Environment AG for the sale of its industrial boilers activity
ALSTOM signs agreements with Austrian Energy & Environment AG for the sale of its industrial boilers activity
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ALSTOM and Austrian Energy & Environment AG have signed binding agreements for the sale of ALSTOM's Industrial Boilers business.
The agreements are subject to a limited number of conditions precedent, and it is envisaged that completion of the transactions should occur by end November 2005.
The Industrial Boilers activities sold to Austrian Energy & Environment AG include ALSTOMs German, Czech and Australian range of industrial boilers, industrial sized heat recovery steam generators, and thermal waste to energy plants. These businesses recorded aggregate sales of around 400 million and employ approximately 450 persons.
Austrian Energy & Environment AG is Austria's largest supplier of thermal energy generation and environmental protection technology systems. It is part of the A-TEC Industries group that employs approximately 7,200 persons and has annual sales of 1.1bn.
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