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AIT acquires Novintec Group in Landquart

Expansion in the Grisons/South Eastern Switzerland Region

(PresseBox) (Olten, ) The Atel Installationstechnik Group (AIT) in Zurich is to acquire the Novintec Group, based in Landquart, at the beginning of October 2007.

The Novintec Group specialises in heating, ventilation, air conditioning and sanitation technology. With five companies at nine locations and a workforce of 110, the Group posted revenue of CHF 36 million in 2006. The company was created in 1997 from the former Sulzer Infra in Chur. Novintec's owners have been seeking a strategic partner to ensure further growth, and have found one in the Atel Installationstechnik Group.

Agreements governing the takeover of the Group were signed at the beginning of September. The takeover will be completed in early October 2007. The selling price was not disclosed. Atel intends to integrate the Novintec Group in Atel Gebäudetechnik AG. All employees will retain their jobs.

The services offered by Novintec – plant engineering, repairs and maintenance – ideally complement the core activities of the AIT Group. The Group’s customer base includes large companies in the service and industrial sectors, general contractors and public administrations. The fusion will create the leading provider of comprehensive building services (heating, ventilation, air conditioning, sanitary engineering, electrical engineering) in the Grisons/South Eastern Switzerland region.