Austria Antriebstechnik (ATB), the Drive Technology Division of A-TEC Industries AG, Finalises the Acquisition of David McClure Limited (McClure)
STOCKPORT, England, July 9, 2007 --
- ATB Continues to Strengthen its Position in the Important UK Market
- Christian Schmidt, ATB CEO and A-TEC COO: "McClure Offers a Very Attractive Product Portfolio and Complements ATB Perfectly"
Vienna listed Austria Antriebstechnik AG (ATB), the drive technology division of Austrian industry group A-TEC Industries, announced today that it has closed its acquisition of Stockport-based engineering company David McClure Limited. The now following integration of McClure is another step of ATB to strengthen its electric motors business after buying the business of Laurence Scott & Electromotors (LSE) just a few weeks ago. ATB has already great industry experience through its UK subsidiary electric motor manufacturer ATB Morley.
"McClure offers a very attractive product portfolio and its great future potential will be core to ATB's long-term development" said Christian Schmidt, CEO of ATB and COO of A-TEC Industries, ATB's Vienna-listed parent company.
"McClure is a first-class company, with a skilled workforce and excellent products. It complements our international network of electric motor manufacturers perfectly." The company will operate as a subsidiary of ATB Morley using the name 'David McClure' where appropriate.
Founded in 1892, McClure is based in Stockport, near Manchester in the UK. The company designs and manufactures electric motors for the mining, marine, heavy industrial, defence and the automotive industry.
McClure was purchased by ATB's British subsidiary, ATB Morley. ATB Morley was taken over by the ATB Group in 2004, and is among the world's leading manufacturers of electric motors for the coal mining industry. ATB Morley is based in Leeds, UK, and employs 138 people.
About ATB Austria Antriebstechnik AG
The Vienna-listed ATB Austria Antriebstechnik Group, headquartered in Spielberg, Austria, is one of the world's leading manufacturers of electrical drive systems for industrial applications and appliances. Its subsidiaries are: ATB Antriebstechnik, Welzheim, Germany; ATB Motorentechnik, Nordenham, Germany; ATB Technologies, Lustenau, Austria; ATB Components, Ostrava, Czech Republic; ATB Selni, Nevers, France; ATB Morley, Leeds, UK; ATB Sever, Subotica, Serbia; ATB Motors, Shanghai, China; and Lindeteves-Jacoberg Ltd., Singapore. For more information, see www.atb-motors.com.
About A-TEC Industries
Vienna-listed and based A-TEC Industries AG is an international industrial group with flourishing drive systems, plant engineering, machine tools and metallurgy divisions. The group currently employs around 11,000 people, and posted revenue of EUR 1.6 billion in 2006.