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Article: Green Light for Laurence Scott & Electromotors - New Parent Austrian Antriebstechnik AG (ATB) Gains Support.

Article from:
PR Newswire Europe
Article date:
June 25, 2007
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NORWICH, England, June 25 /PRNewswire/ --

- German Cartel Office Approves Acquisition

- Christian Schmidt, ATB CEO: "We Have Received Great Support - a Positive Outlook"

In its effort to acquire Norwich-based engineering company Laurence & Scott Electromotors Ltd, Vienna listed Austria Antriebstechnik AG (ATB) has received the green light from the German cartel office. This approval is key for the acquisition, as ATB has a major market share in the German market for electromotors through its subsidiary manufacturer Schorch.

"We can now close the acquisition in the next few days and start to get the company back to normal," said ...

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