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News

Strategic partnership aiming to take over ATE Technology International

ESI Group : 04 September, 2006  (Company News)
ESI Group (ISIN FR0004110310), a pioneer and world leading solution provider in virtual prototyping and manufacturing processes, today announced the signing of a strategic partnership that aims to take over the Chinese-based company ATE Technology International
This partnership, which should result in the acquisition of these activities, will allow ESI Group to strengthen its presence in China, notably via the integration of a team of 32 high level and experienced engineers.

Through this operation, ESI Group is looking for both market diversification and a strengthening of its geographical presence. Indeed, ATE Technology International has a presence in aeronautics, astronautics, energy, ship building and electronics, whilst the current ESI Groupís clients in China are essentially in the automotive and manufacturing sectors. Moreover, ESI Groupís current subsidiary Zhong Guo ESI has sites in the southern cities of GuangZhou and Shanghai, whilst ATE Technology International is in Beijing, the Chinese capital in the north.

Already a distributor of ESI Groupís Fluid Mechanics products, as the third-largest player on the Chinese Mechanical Computer Aided Engineering market and with know-how resulting from 12 years of experience, ATE Technology is in a strong position to reinforce ESI Groupís development across this vast territory. ATE Technology, taking into account all of ESI Groupís know-how, will offer high value-added integrated solutions and thus will have access to major industrial projects. For FY 2005, ATE Technology recorded a turnover close to US$ 3.9 million for all its activities.

Su ZHANG, President of ATE Technology, states: ďAs a distributor of CFD products, the collaboration between ATE Technology and ESI Group has been well-received on the Chinese market, and I am very happy that this collaboration will now be strengthened by the intended take over. Furthermore, ESI Groupís Open-VTOS strategy, with its all encompassing Visual simulation platform, should meet the strong demand from Chinese clients for specific system integration projects. This operation will allow us to reach critical size to gain access to such strategic industrial projects.Ē
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