Brazil’s Weg Says It Acquired Austria’s Watt Drive

(Corrects amount of Watt Drive’s estimated revenue in second paragraph of story published Nov. 8.)

Brazil’s industrial-machinery maker Weg SA (WEGE3) said it signed an agreement to acquire Watt Drive Antriebstechnick GmbH, an Austrian company specialized in power transmission.

Watt Drive’s 2011 net revenue is estimated at about 30 million euros, Weg said in a regulatory filing, without giving further financial details for the transaction.

To contact the reporter on this story: Fabiola Moura in New York at fdemoura@bloomberg.net

To contact the editor responsible for this story: Adriana Brasileiro at abrasileiro@bloomberg.net

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