Read the latest headlines about bilateral relations in the areas of economy, business, diplomacy, culture and tourism between Austria and its partners
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Vienna's Foreign and Bilateral Relations

Sberbank Reduces Offer for VBI after Drop of Share Prices

Sberbank wants to pay less for the purchase of Volksbank International after European bank shares have dropped more than 20%. Executives are going to meet on 28 August to negotiate the deal.

August 26, 2011

Rosenbauer: CEO Wagner Retires

The boss of the Austrian manufacturer of fire fighting vehicles draws the consequences from the company’s involvement in cartel agreements on the German market.

August 26, 2011

Austrian paysafecard Group Acquires Dutch Competitor Wallie

The Austrian provider of prepaid payment methods expands its international market leadership. The company now operates in 28 countries.

August 24, 2011

SNCF Acquires Stake in Westbahn

The French national railway company participates with 26% in ÖBB’s new competitor. Operations start on 11 December.

August 24, 2011

German Municipalities to Sue Rosenbauer

After the antitrust fine of € 10.5m, the Austrian manufacturer of fire fighting vehicles might face damage payments to German municipalities. CEO Wagner refuses to step back.

August 23, 2011

Ecowind Acquired by German BayWa

Europe’s largest agricultural trading company pays € 4.6m for a 90% stake in the Austrian project company.

August 23, 2011

Major Order from Russia for C.A.T. oil

The Lower-Austrian provider of oil and gas field services received new orders worth € 70m in Russia. The order book volume grew to € 239m.

August 19, 2011

BKS Bank Continues Expansion Course

The Carinthian/Styrian regional bank recorded an increase in profit of 11.7%. Step-by-step expansion in international markets will be continued.

August 19, 2011

FACC to Build Construction Plant in Russia

The Upper Austrian aircraft component manufacturer and its Russian partner invest a total of € 55m in Kazan. The new plant will supply components for commercial aircraft starting from 2013.

August 18, 2011

Upper Austrian PAA Laboratories Acquired by GE Healthcare

The Pasching-based cell culture company will combine with the global provider of medical technologies and services. The deal is expected to close in the third quarter.

August 18, 2011

Telekom Austria Adjusts Guidance for Devaluation of Belarus Ruble

The Austrian telecommunication group incurred a net loss of € 59.2m in the first half of the year. Revenue expectations for the full year were reduced from € 4.6bn to € 4.5bn.

August 17, 2011

Erste Group not Interested in Polish Bank Millenium

The Austrian bank continues looking for opportunities to expand into Poland after it has ruled out an acquisition of Bank Millenium.

August 16, 2011

Trenkwalder to Be Taken Public by New Owner

The new German majority owner of the Austrian personnel leasing company is planning an IPO in Vienna or Frankfurt.

August 16, 2011

Lenzing Nanjing Starts Up New Fiber Production Line

With the opening of the new line, the Austrian fiber manufacturer almost doubled its production capacity in China to 140,000 tons per year.

August 16, 2011

Strabag to Cooperate with German Engineering Company

The Austrian construction group entered into a co-operation in the field of power engineering. The agreement is expected to strengthen the group’s position in existing markets.

August 11, 2011

Constantia Flexibles Acquires Turkish Asaş

The subsidiary of Constantia packaging took over 93% of the Turkish company. The deal has already been approved by the cartel authorities.

August 11, 2011

Head’s Net Loss Widens

The Dutch sporting goods manufacturer listed at the Vienna Stock Exchange incurred a loss of almost € 13m in the first half of 2011.

August 11, 2011

BayernLB Demands Rescission of Hypo-Deal

The German bank has taken action against the employee fund which is accused of having misled the management about Hypo’s equity base.

August 10, 2011

S&T Deeper in the Red

The IT service provider recorded higher losses in the first six months of 2011. The Austrian workforce has been reduced by one third since October.

August 10, 2011

Do & Co Expands in New York

The Austrian catering company has expansion plans. The production area in New York will be doubled and one company will be acquired by the end of the year.

August 9, 2011

Austrian Companies Not Worried by US Downgrade

Despite falling share prices, most Austrian companies with exposure to the USA remain confident.

August 9, 2011

Green Light for Strabag’s Cooperation with Lafarge

The Austrian construction company has wrapped up the acquisition of a 30% stake in the joint venture with the French building material supplier.

August 5, 2011

Strong Plus in Sales for Magna

The Canadian component supplier increased sales by 29% to $ 14.5bn. In Austria, the company employs approximately 11,000 people.

August 5, 2011

Erste Group Strives for Full Control over Romanian BCR

The Austrian bank does not want its Romanian subsidiary to be listed at the stock exchange although it was a condition for the privatization.

August 4, 2011

AUA vs. Emirates: Negotiations Postponed to Fall

Two days of talks have not brought a solution to the dispute about Emirates’ air rights to Vienna. A decision will be taken in fall.

August 4, 2011

The Austrian Trade Commission in Los Angeles

The Austrian Trade Commission in Los Angeles is a point of contact for products/specific information of the following sectors: Business Opportunities, Sourcing References, Trade Shows & Events, Doing Business, Investment.

August 4, 2011

The Austrian Trade Commission in Chicago

The Austrian Trade Commission in Chicago is a local link to Austrian companies, products and services and Austria as an investment location in the heart of Europe.

August 4, 2011

The Austrian Trade Commission in Washington D.C.

The Austrian Trade Commission in Washington D.C. cooperates with the Austrian Embassy, Austrian representatives at various International Financial Institutions (World Bank, IMF...

August 4, 2011

The Austrian Trade Commission in New York

The Austrian Trade Commission in New York is a "one stop shop" for most things you need to do business with Austria, including following services: Business Opportunities, Sourcing References, Trade Shows & Events, Doing Business, Investment.

August 4, 2011

Teak Holz International: Earnings Four Times as High as Revenue

The Upper Austrian timber company’s revenue more than doubled in the first nine months of the financial year. The value of plantations increased by € 8.7m.

August 4, 2011

First European U.S. Sustainable Construction Forum

The Austrian Trade Commission Chicago is organizing a “First European U.S. Sustainable Construction Forum” on Monday, October 3, 2011 with the goal of bringing together leading companies from both sides of the Atlantic.

August 4, 2011

4th Annual Conference for Executives of Austrian Subsidiaries in the U.S.

The Austrian Trade Commissions are organizing a forum for an exchange of ideas and experiences between Austrian companies and their partners in the US.

August 4, 2011

AUA vs. Emirates: Negotiations Started in Dubai

The Middle Eastern airline wants to double the number of connections to Vienna. Austrian Airlines sees unfair competition.

August 3, 2011

Erste Group Planning New Branch Concept for Czech Republic

The Austrian bank’s Czech subsidiary is working on a modern concept which will be targeted at new customer groups.

August 3, 2011

Kapsch CarrierCom Wins Order in Czech Republic

The Austrian technology company was chosen as general contractor for the GSM-R technology in the Czech Republic. The order value is € 20m.

August 3, 2011

Hypo Alpe Adria Sells Off German Biogas Plants

The Austrian nationalized bank pulls out of the biogas sector. Sale of its plants in Austria is planned for the second half of 2011.

August 2, 2011

Porr Wins Major Order in Germany

The Austrian construction company will build two tunnels as part of the Stuttgart 21 project. Total volume of the order is € 700m.

August 2, 2011

Immofinanz Acquires Development Site in Poland

The Austrian real estate company plans to develop a shopping center in the Polish city of Lublin. Opening is scheduled for 2013.

August 2, 2011

Martin Schwedler Appointed CEO of Raiffeisen Investment in Moscow

The previous board member of RIAG will focus on expanding the Austrian bank’s presence in Russia’s growing M&A and ECM business.

August 1, 2011

bwin.fr and sajoo.fr to Merge

The online gaming providers agreed to merge their French businesses. The companies have already been working together since 2008.

July 29, 2011

Erste Group Increased Net Profit from January to June

The Austrian bank’s results were burdened by bank taxes in Austria and Hungary. Net profit was up 5.2%, based on a solid operating result and lower risk costs.

July 29, 2011

Erste Bank Fixed the Takeover of Intermarket Bank

Erste Bank took over 56% in Austria’s largest factoring bank from the Polish subsidiary of Commerzbank and will acquire another 10% from Coface.

July 28, 2011

“Austria Was Boosted by EU Accession, Euro and Opening to Eastern Europe”

Bank Austria analyzed the development of Austria since the EU accession in 1995. It concluded that the economy has taken full advantage of the opportunities offered by the changes.

July 28, 2011

VIG: Trouble at Romanian Subsidiary

The Austrian insurance group has reportedly lost millions due to illegal actions at one of its Romanian subsidiaries. Company representatives denied any misconduct.

July 27, 2011

Verbund Reports Drop in Group Result and Sale of French Poweo

The Austrian electricity group suffered from extraordinarily weak water supply in the first six months of the year. The stake in French Poweo will be sold to competitor Direct Energie.

July 27, 2011

Pankl Acquires US-Based Superior Crankshaft

The Austrian component supplier takes over 100% of the American crankshaft producer which was also founded by Gerold Pankl.

July 27, 2011

Kärntner Sparkasse Starts Withdrawal from Italy

The Carinthian regional bank is closing down two branches as a consequence of the economic crisis and new capital requirements.

July 26, 2011

Kapsch TrafficCom Wins Order in Portugal

The Austrian technology company takes over installation, technical operation and maintenance of an electronic toll collection system.

July 26, 2011

Verbund’s Sorgenia Starts Eco-Subsidiary in Italy

Sorgenia Green is planning to invest € 500m in geothermal energy and hydro power projects in the next five years.

July 26, 2011

Austrian Companies Looking for Acquisition Targets in Greece

Greece’s debt crisis offers opportunities for Austrian companies. They are especially interested in acquisitions of Greek subsidiaries in the Balkans.

July 25, 2011
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