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Eder Favors Further Privatizations

Published: February 15, 2011; 01:16 · (Vindobona)

The CEO of Austria's largest steel company, voestalpine, would like to see the state pushed away from business still further.

Eder Favors Further Privatizations / Picture: © Flickr / Worldsteel

In the current debate on further privatization steps in the Austrian economy, CEO Wolfgang Eder says: "In these times, when millions are needed for budget consolidation, it would be worthwhile to consider privatizations”. In an interview with the magazine "TOP Gewinn" Eder says: "The State is, as a rule, not the right owner for me." Budget consolidation should be made possible with the proceeds from privatizations.

Eder relativizes his statement, however, because a complete withdrawal should not take place. The state should therefore remain as minority shareholder with 25% plus one share in the areas of energy, public services and medicine.

The motorway financing company Asfinag has great privatization potential. In the case of the Federal Railways ÖBB privatization would make sense only in about ten years time.

Concerning voestalpine, there is nothing to sell, according to Eder. The Group CEO considers the stainless steel division Böhler-Uddeholm as an indispensable part of the enterprise. The stainless steel divisions of the great competitors Arcelor Mittal and Thyssen Krupp, have been sold recently.

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