German €20mn order for A-TEC Industries

A-TEC Industries has been ordered to deliver devices for a new power plant in Germany.The Vienna-based firm said today (Fri) its subsidiary AE&E will produce and deliver three waste heat boilers worth more than 20 million Euros to the combined cycle power plant in Stade, Lower Saxony.A-TEC Industries, which is headed by Viennese investor Mirko Kovats, explained recently that a decline in order value caused turnover to drop last year.The Vienna-based company received orders worth 2.1 billion Euros in 2009, down in value by 35.4 per cent compared to the previous year. Turnover declined by eight per cent to 2.9 billion Euros.Earnings before interest and taxes (Ebit) however soared from 19.4 million Euros in 2008 to 143.1 million Euros the following year “due to a strong performance in the plant manufacturing and minerals & metals sectors”.Styrian industrial plant maker Andritz AG meanwhile announced it has been assigned to provide various gear for the expansion of a cellulose plant in Chile. Andritz said the order was worth 40 million Euros.