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New Austrian investment in the UK



1. June 2007

Austria Antriebstechnik AG acquires British company Laurence Scott & Electromotors  

Austria Antriebstechnik AG (ATB AG) has purchased British company Laurence Scott & Electromotors based in Norwich.

ATB is one of the world's leading manufacturers of electrical drive systems for industrial applications and appliances. ATB has 3,970 employees, is part of the Austrian A-Tec Industries group and is listed on the Vienna Stock Exchange.

Laurence Scott & Electromotors will be purchased by ATB's existing British subsidiary ATB Morley, a manufacturer of electric motors for the coal mining industry. The acquisition of Laurence Scott & Electromotors which develops and manufactures high voltage electric motors for the oil and gas industry and had sales of £13m in 2006 adds one of the UK's oldest electrical machinery manufacturers (established in 1883) and a leading supplier in this niche market to ATB's portfolio.