Verbund Subsidiary Sorgenia Managed Turnaround

Energy › Energy Source ♦ Published: April 20, 2011; 14:09 ♦ (Vindobona)

The Austrian-Italian joint venture Sorgenia reported a profit of € 6.8m for the first quarter 2011.

Verbund Subsidiary Sorgenia Managed Turnaround / Picture: © Vindobona.org

In the same period of the previous year, the loss still amounted to € 12.2m. However, sales fell by 8.6% to € 549.7m. The Austrian Verbund Group, involved in a 45% stake in Sorgenia, plans to expand the activities of the subsidiary.

Wind energy production is to be doubled and further investment in the areas of gas and renewable energies are planned. The construction of 14…

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