Successful closing of acquisitions

DJ Successful closing of acquisitions

=------------------------------------------------------------------------------- 
  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for 
  the content of this announcement. 
=------------------------------------------------------------------------------- 
 
Graz, 30 June 2008. Andritz and GE Energy have successfully closed the 
transactions announced in May and June 2008, pursuant to which Andritz has 
acquired certain assets of GE Energy´s Hydro business as well GE Energy´s 
majority interest in GE Hydro Inepar do Brasil S.A., to be renamed Andritz Hydro 
Inepar do Brasil S.A. 
 
The acquired businesses are expected to add approximately 300 million US dollars 
(approximately 200 million Euros) to Andritz´s Group sales on an annual basis 
and will be included in the consolidated financial statements of the Andritz 
Group from 1 July 2008. 
 
These acquisitions further strengthen and expand Andritz´s position as one of 
the world´s leading suppliers of hydropower equipment, and strengthen Andritz´s 
abilities to serve customers in Brazil, China, North America and Scandinavia. 
 
"Given the fast growing demand for renewable energies, the demand for 
hydropower, which is by far the most important source for electricity production 
from renewable energy sources, is expected to show very strong growth during the 
next years. With these acquisitions, Andritz is now in a position to supply its 
customers with the full product range of hydropower equipment worldwide," says 
Friedrich Papst, member of the Executive Board of Andritz and Head of Andritz´s 
Hydro Power business area. 
 
- End - 
 
The Andritz Group 
The Andritz Group is a global market leader in the supply of customized plants, 
systems, and services for the pulp and paper industry, the hydropower industry, 
the steel industry, and other specialized industries (solid/liquid separation, 
feed, and biofuel). Headquartered in Graz, Austria, the Group has about 12,300 
employees worldwide. It manufactures and sells its products and services 
globally. 
 
 
end of announcement                               euro adhoc 
=------------------------------------------------------------------------------- 
 
 

(END) Dow Jones Newswires

June 30, 2008 02:01 ET (06:01 GMT)