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29. 01. 10. - 16:00

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29. 01. 10. - 16:00

Christ Water Technology seals contracts worth €48 mn

Upper Austrian firm Christ Water Technology (CWT) reported new contracts worth 48 million Euros yesterday (Thurs).

The firm, based in Mondsee in Upper Austria’s Vöcklabruck district, will carry out work on desalinisation of sea water and provision of potable drinking water worth 45 million Euros as well as 3 million Euros of work with a firm in the micro-electronic industry.

The firm also reported that Canadian company GLV had acquired an 88 per cent interest in it and would probably acquire the remaining 12 per cent in the second quarter of 2010.

CWT said GLV’s headquarters in Montreal would take over its former head-office functions in Austria and Switzerland and its business in North America and Europe would be restructured.

CWT added that it was drawing up a global business strategy.

Company officials said then that the value of orders had risen by 56 per cent to 150 million Euros year on year in the first three quarters 2009, while turnover had dropped by 23 per cent to 107 million Euros.

Earnings before interest, taxes, depreciation and amortisation (Ebitda) remained in the red with a minus of 2.1 million Euros but improved compared to the first three quarters of 2008, when CWT suffered losses of 4.5 million Euros.

Austrian Times

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