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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
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
Siemens Boss Peter Löscher to Stay until 2017
The Austrian manager will remain CEO of the German group for another five years. His contract will be extended until 2017.
July 25, 2011
Massive Increase in Municipalities’ Foreign Currency Debt
The amount of foreign currency debt has doubled since 2009 and surpassed € 2bn in February 2011. Swiss franc denominated loans accounted for almost 100%.
July 25, 2011
Kapsch TrafficCom Awarded Major Contract in the U.S.
The American subsidiary of the Austrian technology group won a ten-year contract for the operations of an electronic toll collection system in 14 states.
July 22, 2011
UniCredit Sees ATX at 3,200 Points in 12 Months
The bank’s analysts expect the Austrian stock index to recover within the next 6 to 12 months. Close links with Germany and Eastern Europe are seen as an advantage.
July 22, 2011
austriamicrosystems to Be Included in SIX Swiss Exchange’s SPI Middle Index Basket
Inclusion of the Austrian microelectronics and semiconductor manufacturer in the SPI Middle index basket becomes effective September 19, 2011.
July 21, 2011
Blue Chip Energy Filed for Insolvency
The solar cell producer has abandoned production today. Asian investors are said to be interested in an acquisition of the Burgenland-based company.
July 21, 2011
EVN Expands in Bulgaria
The Austrian electricity company invested € 5m in the construction of a solar power station in Bulgaria and increased its stake in a joint venture project in the country.
July 21, 2011
Immofinanz Generated New Funds in Russia
The Austrian real estate company reached an agreement on the refinancing of its logistics center in St. Petersburg. The new funds will be invested in further projects in Russia.
July 21, 2011
German Rail Cartel: Increasing Pressure on voestalpine
The German Federal Cartel Office made new inspections at a local subsidiary of the Austrian steel company. According to press reports, price fixing on the German rail market continued until 2011.
July 20, 2011
Hypo Alpe Adria Opens New Branches in Italy
The Carinthian bank is expanding its business in the neighboring country although the subsidiary will soon be in the hands of a new owner.
July 19, 2011
Verbund Sold Renewables Portfolio to Axa Private Equity
The Austrian electricity company disposed of Poweo’s renewable energy business as a step towards restructuring of its portfolio in France.
July 19, 2011
SensorDynamics Acquired by Maxim
The Styrian semiconductor company was sold to Nasdaq-listed Maxim Integrated Products. The American group will pay approximately $ 130m (€ 92.3m).
July 19, 2011
Stress Test: Erste Group and Raiffeisen Passed, Volksbank Failed
Volksbanken Group is the only Austrian bank that failed the stress test. Taking into account the measures that are currently being implemented, the core tier I ratio would be above the benchmark.
July 15, 2011
Gerhard Niesslein Becomes CEO of Orascom Development Holding
The Swiss-based town developer appoints Austrian Gerhard Niesslein as new CEO of the Group. Samih Sawiris remains Executive Chairman focusing on the firm's strategic development.
July 15, 2011
Erste Group Provided Financing for Hospital in Warsaw
The € 32m acquisition financing is the first private hospital financing in CEE of that size which has been closed by Erste Group and also a first in Poland for the bank.
July 15, 2011
VBAG and Sberbank Agree on Sale of VBI
After several months of negotiations the two banks have agreed on the main conditions of the sale of Volksbank International. The deal will be closed by the end of this year.
July 15, 2011
Austrian High Q Technologies Sold to US Company
The Austrian manufacturer of lasers is acquired by Californian Newport, a global supplier of advanced products and solutions in several technology fields.
July 14, 2011
Strabag Becomes Sole Shareholder of German Möbius
The Austrian construction company further expands its position in the German hydraulic engineering sector. A majority stake in Möbius had been acquired in 2007 already.
July 14, 2011
German LBBW Starts Sale of Property Portfolio – conwert Interested
An acquisition of the real estate portfolio is not affordable for the Austrian group. However, it might enter a partnership and take over the asset management.
July 13, 2011
OMV Announces Re-Development of Schiehallion Oil Field
A joint venture including the Austrian oil and gas company will spend € 3bn on a major re-development of the Schiehallion oil field to the west of the Shetland Islands.
July 13, 2011
OMV Closes Acquisition of Petronas Carigali
The Austrian oil and gas company purchased the exploration and production entity of Petronas in Pakistan. Strong growth potential is expected in the country.
July 12, 2011
Binder+Co Takes Over Italian Mechanical Engineering Company
Through the acquisition, the Austrian machine and plant manufacturer enlarges its portfolio and expands its sales network in the Mediterranean region.
July 12, 2011
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