Atecs Mannesmann is the new name for Mannesmann’s Engineering & Automotive divisions, parent company of crane maker Mannesmann Dematic. Atecs will be floated on the stock exchange as a new company in June, leaving Mannesmann AG as a telecommunications company.

Explaining the choice of name, Mannesmann said that Atecs was short for ‘advanced technologies.

Mannesmann said that the constituent companies of Atecs – Rexroth, Dematic, Demag Krauss-Maffei, VDO and Sachs – had strengthened in recent years “through a process of ongoing dynamic portfolio optimisation. They have focused on their core businesses and on growth areas, implementing over 40 divestments and more than 30 acquisitions.”