ATB Austria Antriebstechnik AG: ATB Group is adding another production facility

Vienna (pta017/16.01.2014/13:10 UTC+1) 16.01.2014: As of today, ATB Austria Antriebstechnik AG, Vienna is entering into a Joint Venture (JV) agreement with Wolong Electric Group Co. Ltd. for the purpose of the co-ownership of a motor manufacturing plant in Wuhan, China.

Following the creation of a new sales office in Shanghai at the beginning of 2013, ATB is adding another production facility to the group to further expand its business activities on the Asian continent. ATB therefore enters into a JV with Wolong Electric Group Co. Ltd., a company belonging to the same group of companies as ATB's major shareholder Wolong Investment GmbH. The JV will be effective after approval by the Chinese authorities.

The JV involves the co-ownership of the company Wolong Electric Wuhan Co. Ltd. which will be renamed to ATB Wuhan (Motors) Co. Ltd. upon approval. ATB will then take over the management of the company, a production plant in Wuhan within the province Huwei.

This strategic extension of the ATB group serves to increase ATB's market share and to provide a production platform for local manufacturing in China. It gives ATB the opportunity to enhance its position in the global market place. The new co-operation also further strengthens synergies between Wolong and ATB and constitutes therefore a win-win situation for both groups of companies.

The ATB Group is a leading manufacturer of electric drive systems. The business activities of ATB encompass the design, development, production, sales and distribution of electric motors and generators and related systems. The Group aims to develop, produce and test optimal drive solutions for its customers and their individual applications. In doing so, the Group draws on an array of technologies, solutions and options in a broad performance range from 50 watts to 25 megawatt. ATB has eleven production sites and three further sales subsidiaries.

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Emitter:	ATB Austria Antriebstechnik AG Donau-City-Straße 6/15a 1220 Wien Austria
Contact Person:	Mag. Christina Raimann, MA
Phone:	+43 1 90250-241
E-Mail:	raimann@atb-motors.com
Website:	www.atb-motors.com
ISIN(s):	AT0000617832 (Share)
Stock Exchange(s):	Vienna Stock Exchange (Official Trade)