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Vienna's Foreign and Bilateral Relations
Read the latest headlines about bilateral relations in the areas of economy, business, diplomacy, culture and tourism between Austria and its partners
Immofinanz Acquires Romanian Property Developer
The Austrian real estate company buys the remaining stake for € 42.43m in order to become sole shareholder of Bucharest-based Adama.
June 16, 2011
Raiffeisen Expanding Its M&A Business in Russia
The Austrian bank group is planning a joint venture between RBI and RIAG in order to put the investment banking in Moscow on a new footing.
June 16, 2011
Building Project for Strabag in Sweden
The Austrian construction company is going to develop over 15,000 m² of residential and retail space. The project has a volume of SEK 600m (€ 67m) and will be completed in 2013.
June 16, 2011
austriamicrosystems Acquires US-based Company
The Styrian microelectronics and semiconductor manufacturer is going to buy 100% of the shares in an American light sensor supplier for $ 320m (€ 220m).
June 16, 2011
No Money from Al Jaber: Restructuring of Kneissl Has Failed
The last attempt to rescue the Tyrolian ski manufacturer has failed as majority owner Al Jaber has not transferred the € 2.1m necessary to continue business. The company will be liquidated.
June 15, 2011
Palmers on the Way Back to Black Figures
The Austrian lingerie group’s results are still negative due to the acquisition of Lejaby. An expansion of the Palmers brand is planned in Germany and CEE.
June 15, 2011
Hungary Considering Buyback of ÖBB’s Rail Cargo Hungaria
The Hungarian state is interested in acquiring a stake in the Austrian Federal Railways’ cargo subsidiary which it privatized in 2008.
June 14, 2011
Immofinanz Acquires Office Property in Warsaw
The Austrian real estate company already held 51% of the property and is now becoming the sole shareholder. The transaction includes the sale of another object to a project partner.
June 10, 2011
Verbund Evaluating Future Options for Sorgenia
The Austrian electricity company and its partner, the Milanese industrial holding CIR, will decide about the future shareholder structure of their joint venture.
June 9, 2011
ÖBB with Capital Injection for Its Italian Freight Business
The Austrian Federal Railways’ subsidiary Linea needs additional funding in order to cover its last year’s losses of € 5.8m.
June 9, 2011
Nuclear Power Phase-Out Will Cost Austria € 600m
According to calculations by E-Control, Germany’s decision to close down its nuclear power plants will affect the Austrian economy.
June 9, 2011
Trade with the Czech Republic Is Booming
Austrian companies increased their exports to the country by 32% in the first quarter of the year. In 2010, Austria was the biggest foreign investor.
June 9, 2011
New Motorway Order for Strabag in Romania
The Austrian construction company is going to build a motorway section between the cities of Orăştie and Sibiu. Order volume amounts to € 166m.
June 7, 2011
Swarovski to Invest in US Jewelry Retailer
The Tyrolean optics and crystal group is attracted by a global distribution network of 2,000 stores. The two companies already have a strategic partnership.
June 7, 2011
New Chance for Verbund in Turkey
The Austrian electricity company might win a contract for the power supply in three Turkish provinces after a competitor has withdrawn its bid.
June 6, 2011
Austrian Companies on Roadshow to New York
The 2nd Austrian Equity Day in New York, co-organized with Crédit Agricole Cheuvreux, will be held on Monday, 6 June 2011.
June 3, 2011
Charges against Former Board Members of BayernLB
Accusations relating to the acquisition of the Austrian Hypo Group: breach of duty, embezzlement of bank funds.
June 3, 2011
UniCredit and Raiffeisen Seek to Broker Bulgaria's EVN Stake Sale
Bulgaria is going to sell its minority stake in an electricity distributor operated by the Austrian energy company.
June 3, 2011
CA Immo Starts Work on Shopping Center in Frankfurt
The Austrian real estate group and its joint venture partner invest € 360m into the project. The opening will take place in fall 2013.
June 1, 2011
Hypo Alpe Adria to Sell its Italian Subsidiary
The Carinthian bank intends to divest its operations in the neighboring country. The subsidiary achieved a profit of € 10.82m in 2010.
June 1, 2011
Kneissl: Creditors Accept Restructuring Plans
Al Jaber has to pay € 2m into an escrow account before June 15. Otherwise, the Tyrolian company will be liquidated.
June 1, 2011
Agrana Interested in Hellenic Sugar
The Austrian sugar and starch company is said to be interested in an acquisition of the Greek company which incurred a loss of € 27.1m in the last year.
May 31, 2011
Austrian Companies Hit by Belarusian Crisis
RBI and Telekom Austria are evaluating the effects on their local subsidiaries. Exports to the country could drop by 30%.
May 27, 2011
OeKB Facilitates Austro-Russian Projects
A recently signed agreement will increase the cooperation between OeKB and Russian Vnesheconombank.
May 27, 2011
Swiss Expert Criticizes Austria’s Role in International Money Laundering
OECD expert: “Austria is used as a gateway for international money laundering. It is doing too little to fight the phenomenon.” Only twelve convictions were made in 2009.
May 26, 2011
Alpine Lands Pipeline Project in Czech Republic
The Austrian construction company is going to build 105.8 km of a new gas pipeline. The contract value is € 76.7m.
May 26, 2011
OMV: New CEO and Organizational Structure of Its Turkish Operations
Gülsüm Azeri is going to succeed Melih Türker as CEO of the Austrian oil and gas group’s Turkish operations.
May 25, 2011
France Telecom Evaluating Its Activities in Austria
The future of Orange Austria could be decided before October. The cooperation in networks might have been the first step towards a merger with T-Mobile Austria.
May 25, 2011
Alpine to Build Motorway in Romania
The Austrian construction company is going to build a motorway section for € 91m within a period of 22 months.
May 24, 2011
CA Immo Sold Two Shopping Centers in the Czech Republic
The Austrian real estate group and a Czech investor agreed on the sale of two malls for an amount of € 96m.
May 24, 2011
Novomatic Returns to Russia
The Austrian gaming machine manufacturer intends to cooperate with a Russian casino operator after it had to pull out of the country in 2009.
May 23, 2011
Strabag Takes Majority Stake in Project Companies for Offshore Wind Power Plants
The Austrian construction company acquires a 51% interest in a project portfolio with possible 850 locations in the German North Sea.
May 23, 2011
FACC: New Production Plant in China
The Austrian aircraft component manufacturer is planning the construction of a new site and considering going public soon.
May 23, 2011
Cheuvreux Closing Its Office in Vienna
The French investment bank is closing down its office in Vienna after three years. This has been confirmed by analyst Alfred Reisenberger.
May 20, 2011
Austrian Companies Are Looking for Opportunities in Russia
A delegation of 140 people pursues contacts with potential partners during the state visit of President Fischer. The country’s economy is predicted to grow by 4% in 2011.
May 19, 2011
Kärntner Sparkasse Planning Partial Pull-Out of Italy
The Austrian regional bank intends to close a part of its Italian branches. The credit business has suffered from the crisis; the future focus will be on deposits and private banking.
May 18, 2011
Austrian FDI: 2010 Was a Year of Stabilization
Active foreign direct investment increased, while inward flows stagnated in 2010. Turkey was the top destination for Austrian investors.
May 18, 2011
CEO of BWT Increases Control Over His Group
Andreas Weißenbacher increased his share in BWT to now 26.2%. He also controls 37% of German WMF. Both companies improved their results in 2010.
May 17, 2011
OMV Announces Launch of Rights Issue
The Austrian oil and gas group issues up to 27,272,727 new shares. Proceeds will be used for the refinancing of the acquisition of a major stake in Petrol Ofisi.
May 16, 2011
Bank Austria Invests in the Turnaround of its Kazakh Subsidiary
Bank Austria increases ATF’s capital in order to make it profitable. Loss in the year 2010 amounted to € 163m.
May 16, 2011
EPIC Completes the Acquisition of UkrTelekom
The Austrian financial investor purchases 92.79% of the Ukrainian telecommunications company for € 921m.
May 16, 2011
Leitl: "Reforms, Despite the Positive economic Outlook Should Not Be Forgotten"
Spring forecast by the EU Commission: Clearly improved growth prospects for Austria and the European Union
May 14, 2011
Habau Takes Over Dutch Construction Company
The Austrian construction company takes over the globally active pipeline specialist Nacap and increases sales by € 600m to € 1.4bn.
May 13, 2011
New Inspections at voestalpine Subsidiary
The German Federal Cartel Office today made new inspections at a local subsidiary of the Austrian steel company.
May 12, 2011
German IVG is also Active in Austria Now
IVG Immobilien AG (IVG), the largest German real estate fund company, acquired the Austrian Hypo Real Invest in January 2011, changing its name to IVG Austria AG, with headquarters in Vienna.
May 12, 2011
Romania Offers Export Opportunities for Austria's Environment Industry
18 top Austrian companies active in the areas of environmental technology and renewable energies are present in Bucharest.
May 12, 2011
Immofinanz Closes Acquisition in Moscow
The Austrian real estate group takes over 100% of the GoodZone.
May 11, 2011
Inspections at German Subsidiary of voestalpine AG
Inspections by German Federal Cartel office at voestalpine Klöckner Bahntechnik GmbH.
May 11, 2011
WIFI International: Partnership with TOBB University of Ankara
The Austrian (WKÖ) and the Turkish (TOBB) Economic Chambers have signed a Letter of Intent for an educational partnership with WIFI.
May 11, 2011
Siemens Manufactures Parts for a New Train Generation in Graz
Siemens manufactures components for 130 new trains for the Deutsche Bahn (DB-German Railways) until 2030 in Graz. The contract is worth € 6.0bn.
May 11, 2011
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