EANS-Adhoc: A-TEC Industries AG / A-TEC Industries AG announces commencement of reorganisation proceedings with self-administration

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announcement.
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reorganisation proceedings

20.10.2010

Vienna, 20 October 2010. The board of executive directors announces
that the efforts to negotiate a refinancing of the bond (ISIN
AT000499272) with due date on 2 Nov 2010, and the efforts to obtain a
bridge financing have failed due to the dramatically deteriorating
situation of the Australian subsidiary of the AE&E Group GmbH and the
the correspondingly necessary, but so far unsuccessful negotiations
with the banking syndicate regarding the continuation of the
syndicated revolving guarantee facility of EUR 798 mio.

Therefore, A-TEC Industries AG has requested the commencement of
reorganisation proceedings with self-administration. These
proceedings have commenced today by order of the Vienna Commercial
Court under file number 4 S 140/10f. The lawyer Mr. Matthias Schmidt,
1010 Vienna, Dr. Karl Lueger-Ring 12 has been appointed as
supervisor.

The scope of the reorganisation proceedings is limited exclusively to
A-TEC Industries AG as ultimate parent company. The board of
executive directors expects that negotiations with creditors will
lead to a positive conclusion of the proceedings within the statutory
time limit of 90 days, that is, until 20 Jan 2011 at the latest.

Having regard to the large number of bond creditors, trustees have
been appointed for each of the bonds issued by A-TEC Industries AG in
order to facilitate the process for the bond creditors. Mr. Georg
Freimüller, A-1080 Vienna, Alser Straße 21 has been appointed as
trustee for the bond due on 2 Nov 2010 (ISIN AT0000499272), Ms. Ulla
Reisch, A-1020 Vienna, Praterstraße 62-64 has been appointed as
trustee for the convertible bond (ISIN AT0000A05CS2), and Ms. Susi
Pariasek, A-1010 Vienna, Gonzagagasse 15 has been appointed as
trustee of the convertible bond (ISIN AT00000ATEC9). These trustees
will represent the respective bond creditors in the reorganisation
proceedings.

end of announcement euro adhoc
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ots Originaltext: A-TEC Industries AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Investor Relations

Gerald Wechselauer

Phone: +43 1 22760 - 130

Email: ir@a-tecindustries.com

Press Office A-TEC Industries AG

Claudia Müller-Stralz

Pleon Publico Public Relations & Lobbying

Phone: +43-1-71786-107

E-Mail: claudia.mueller@pleon-publico.at

Branche: Holding companies
ISIN: AT00000ATEC9
WKN:
Index: ATX Prime
Börsen: Wien / Regulated free trade