Austrian Energy & Environment (AE&E) has filed for bankruptcy just weeks after its owner A-Tec Industries AG (A-Tec) was forced to open insolvency procedures.A-Tec said it failed to find an investor for AE&E, which is its biggest subsidiary. The firm held takeover talks with Styrian company Andritz, Austrian businessman Ronald Pecik and a string of […]
Time seems to be running out for struggling industrial firm A-Tec Industries AG as potential investors keep abandoning negotiations.Austrian businessman Ronald Pecik confirmed today (Fri) he saw “no sense” in acquiring A-Tecs subsidiary Austrian Energy & Environment (AE&E) because of its high debts and liabilities.This announcement comes after Hong Kong-based merchant banking company Mass Financial […]
Staff representatives have criticised the “extreme expansion policy” of struggling industrial firm A-Tec.The company faces bankruptcy, and reports have it that A-Tec planned to get rid of its subsidiary Austrian Energy & Environment (AE&E) to avoid a collapse.A-Tec puts the dire state of the firm down to cost overruns on a project by AE&E in […]