euro adhoc: VA Technologie AG / Joint Ventures / VA TECH ELIN EBG Elektronik founds a joint venture with Schneider Toshiba Inverter (E)

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Partnership with the global market leader
Expansion and consolidation of the product portfolio
Anticipated sales of EUR 20 -30 m
VA TECH ELIN EBG Elektronik GmbH & Co., a subsidiary of the listed VA TECH and a leading Austrian company in the development, production and marketing of variable speed drive systems has announced the foundation of a joint venture with Schneider Toshiba Inverter SAS, the global market leader in this field. The agreement between the two companies is of a long-term cooperative nature and encompasses the specification, development and production of upper power range frequency inverters.
VA TECH ELIN EBG Elektronik, which will have a 40% holding in the joint venture, has thus enlarged the scope of its range considerably and will profit from both a comprehensive and integrated product portfolio, which will meet existing customer needs, and the possibility of addressing new target groups. In addition, this partnership underlines the competence of the company with regard to frequency inverters in this power range.
With a 60% share in the joint venture, Schneider Toshiba Inverter, will further strengthen its global market leadership in the upper power range frequency inverter segment.
In 2003, VA TECH ELIN EBG Elektronik achieved sales of EUR 45 m with a work force of 150. Schneider Toshiba Inverter SAS is a holding owned by Schneider Electric und Toshiba Corporation and in 2003, had sales of EUR 400 m and a work force of 800. Schneider Toshiba Inverter is the world market leader in the field of variable speed drives and has a strong market presence in Europe, Japan, China and the USA.
The products of the joint venture will be marketed by both partners on an independent basis. The joint venture is expected to generate sales worth EUR 20-30 m.
Vienna, September 13, 2004

Further inquiry note:
Bettina Pepek
Press Officer
Tel: +43 1/89100-3400, Fax: +43 1/89100-4103

Emittent: VA Technologie AG Turmstraße 44 AT-4031 Linz ISIN: AT0000937453 WKN: 093745 Indizes: ATX, ATX Prime, WBI Börsen: official dealing Wiener Börse AG; free trade Berliner

end of announcement euro adhoc

Wertpapierbörse, Bayerische Börse
Branche: Technology
Sprache: Englisch