EANS-Adhoc: ATB Austria Antriebstechnik AG / Christian Schmidt retires as CEO of the ATB Austria Antriebstechnik

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08.06.2012

ATB Austria Antriebstechnik AG Christian Schmidt retires as CEO of
the ATB Austria Antriebstechnik and joins the Supervisory Board of
the Company Vienna, June 8, 2012, Christian Schmidt, longstanding CEO
of the Vienna stock exchange listed ATB Austria Antriebstechnik AG
(ISIN AT0000617832) has informed the majority shareholder, the Wolong
Group, as well as the members of the Supervisory Board, that he will
resign early as of June 30, 2012 from his Management Board function
to take up new entrepreneurial challenges. Jiancheng Chen, Chairman
and majority shareholder of the Wolong Group deeply regrets this
decision. To ensure continuity, Christian Schmidt will join the
Supervisory Board of the Motors Group at the earliest possible date
so as to provide advisory support in the successful implementation of
the growth strategy. The Supervisory Board appointed Andreas
Schindler, member of the Management Team of the ATB Group as CEO of
the ATB Austria Antriebstechnik as of July 1, 2012. "In the past
years, Christian Schmidt has fundamentally shaped the development of
the ATB Austria Antriebstechnik and in economically difficult times
has set the right course for the future and thus has well positioned
the ATB for the future, regrets Jiancheng Chen, the decision of
Christian Schmidt and adds: "The negotiations about the acquisition
of the shares and our cooperation over the last six months have
always been very constructive and were characterised by a positive
climate. I am very pleased that Christian Schmidt will join the
Supervisory Board and I am convinced that with the ATB we will
achieve a lot through joint efforts." Also Christian Schmidt
underlines the successful cooperation with the Wolong Group in the
past months and refers to the positive performance in the last
financial year, which continued in the first quarter of 2012: "Today
the ATB Group is again a strong motors group, which is excellently
positioned in the international markets for further growth. For me
personally this means that it is now time to transfer responsibility,
since I want to take the opportunity to fulfil a longstanding wish to
engage in international entrepreneurial activities. I am particularly
pleased that my successor will be from within our own ranks, which is
not only a signal for continuity but also a clear proof of confidence
of the majority shareholder in the strength of the ATB Group." After
his business studies at the Wirtschaftsuniversität of Vienna and
working for Procter & Gamble, Frantschach and Mondi, Andreas
Schindler, 41, is member of the Management Team of the ATB Group
since 2007 and responsible for various companies within the ATB
Group. Contact:

Further inquiry note:
Dr. Wolfgang Pflüger
ATB Austria Antriebstechnik Aktiengesellschaft
Donau-City-Straße 6, Top 15A
A-1220 Wien
Phone: +43 1 90250-250
Cell:+43 676 83 757 408
Email: pflueger@atb-motors.com
www.atb-motors.com

end of announcement euro adhoc
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issuer: ATB Austria Antriebstechnik AG
Donau City Strasse 6, Top 15a,
A-1220 Wien
WWW: www.atb-motors.com
sector: Technology
ISIN: AT0000617832
indexes: Standard Market Auction
stockmarkets: official market: Wien
language: English