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Atel Installationstechnik acquires Antonini SpA in Verona

Energy Services segment: Atel expands to North Eastern Italy

(PresseBox) (Olten, ) On 28 February 2008, Atel Installationstechnik Ltd. (AIT) acquired Antonini SpA retroactively to 1 January 2008. Based in Verona, Italy, Antonini specialises in electrical installation, automation and special systems for housing and industrial plant construction. The parties have agreed not disclose the purchase price.

Founded in 1969, Antonini SpA has a workforce of 85 and is expected to generate revenue of approximately CHF 40 million this year. The entire workforce of Antonini will continue to be employed under the Atel Installationstechnik Ltd. (AIT) roof. Antonini SpA delivers services related to the planning, installation, operation and maintenance of electrical plant and equipment, and will strengthen the offerings of Atel Sesti SpA, which is already a key player in Northern Italy.

In AIT Antonini's shareholders have found an ideal partner that will ensure the company's continuity, growth and further development. This acquisition will boost the revenue generated by the AIT Group on the Italian market in 2008 from CHF 75 million to more than 110 million.