Alstom and Austrian Energy & Environment have signed binding agreements for the sale of Alstom’s Industrial Boilers business.
The agreements are subject to a limited number of conditions and are expected to be complete by the end of November 2005.
The Industrial Boilers activities sold to Austrian Energy & Environment include Alstom’s 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 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 €1.1billion.