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Vienna International Companies, Institutions and Organizations News

Linz-Based Unit of Bilfinger Delivers EUR 10 Mln Pipe System to Egypt

Bilfinger VAM, a Linz-based unit of German construction firm, will enjoy a capacity utilisation until autumn thanks to the contract for a pipe system in Egypt, the company said. The firm shares the EUR 10 million (USD 11.3 million) deal with another Bilfinger unit.

April 7, 2016

Voestalpine Acquires Specialty Steel Firms in Shanghai and Barcelona

Voestalpine steel buys two specialty steel firms. With the purchase of Advanced Tooling Tek (ATT) in Shanghai, China, and the Sermetal Group in Barcelona, Spain, Voestalpine is enhancing its position as a producer of special steels. Both companies are specialized in the processing and sale of special steel products for tool and mold-making, a segment whose main customers are the automotive and electronics industries. Together ATT and the Sermetal Group have around 160 employees and generated a total revenue of around EUR 43 million in 2015.

April 7, 2016

Austrian Airlines to Offer Flights to Hong Kong Starting September 5, 2016

AUA Austrian Airlines has signed an agreement with Hong Kong authorities to ad Hong Kong International Airport to its portfolio of long-haul destinations. AUA will fly up to 5 times a week to Hong Kong as of September 5, 2016. The direct link to Vienna will also be the gateway to Eastern Europe for the Hongkongese as well as the South-Chinese business community.

March 9, 2016

Ex-Magna Boss Buys Former Employer's Headquarters in Oberwaltersdorf

The Styrian Car Manager of Oleg Deripaska's Russian Machines Company and former Magna CEO Siegfried Wolf has bought the former Magna headquarters in Oberwaltersdorf.

March 2, 2016

RBI Not to Sell Zuno Bank to ABH Holdings

The sale of Raiffeisen Bank International’s (RBI) direct bank Zuno to the Alfa Banking Group will not be concluded because ABH Holdings withdrew from the contract of sale.

March 1, 2016

Erste Group Posts Net Profit of EUR 968.2 Million in 2015

“A net profit of nearly 1 billion euro, a strong capital base and substantially lower risk costs for 2015 show that we have done our homework,” said Andreas Treichl, CEO of Erste Group Bank AG, about the full-year 2015 preliminary results.

February 26, 2016

Starwood Sells Hotel Imperial Vienna for EUR 71 Million

Starwood Hotels & Resorts Worldwide, Inc. announced that it has closed on the sale of Hotel Imperial Vienna, a Luxury Collection Hotel, to Al Habtoor Investment - the investment arm of UAE conglomerate Al Habtoor Group for 71 million euros. As part of the transaction, all rooms and suites of the iconic hotel will be renovated over the next four years. Hotel Imperial will continue to operate as part of The Luxury Collection brand under a new long-term management agreement.

February 26, 2016

Siemens Austria Builds World's Largest Metro Project in Saudi Arabia

The Austrian unit of Siemens announced in Vienna Simmering at the rollout of the first vehicle that a "a very, very big order” has been secured. With six lines and a total route length of 175 kilometers, the capital of Saudi Arabia Riyadh is planning the world's largest subway project. Siemens is to supply the entire turnkey system for two driverless metro lines.

February 24, 2016

Erste Group Provides Blackstone with a 5-Year EUR 91 Million Facility

Erste Group provides Blackstone with a 5-year EUR 91 million facility to acquire 12 logistics assets. The 265000 sqm portfolio covers 12 standing logistics investments located in Hungary (5), Romania (4), Poland (2) and Slovakia (1), as well as land reserves.

February 22, 2016

Erste Group Moves to New Headquarters at Erste Campus

At the beginning of this year Erste Group started moving into its new headquarters at Erste Campus located in the new district of Quartier Belvedere, built on the former site of the Südbahnhof train station.

February 11, 2016

Activ Solar Files for Reorganisation in Austria, Debts Reach EUR 500 Million

Vienna-based Activ Solar GmbH announced that it is bankrupt and that it has filed for reorganization in Austria due to its investment exposure in Ukraine. The company has amassed debts to the tune of EUR 500 million.

February 10, 2016

Unicredit Bank Austria Preliminary Results: Net Profit of About EUR 1.3 Billion for 2015

Unicredit Bank Austria has published its preliminary results for the 2015 financial year. Unicredit's Austrian subsidiary posts a net profit of about EUR 1.3 billion for 2015. Systemic charges including bank levies are up by EUR 89 million to EUR 326 million.

February 10, 2016

RBI: Preliminary 2015 Consolidated Profit of EUR 383 Million

Raiffeisen Bank International AG (RBI) announces a preliminary 2015 consolidated profit of EUR 383 million. This is above the guidance previously given, primarily due to lower than expected net provisioning for impairment losses of EUR 1,266 million, 28 percent below 2014. This development was spread across a number of markets. General administrative expenses were EUR 2,915 million, 4 per cent below the prior year. Transformation program costs in 2015 were approximately EUR 90 million, in line with guidance. FY 2015 guidance had also included goodwill impairment charges and risk costs amounting to EUR 124.1 million, which were reallocated to FY 2014 in the course of a restatement.

February 2, 2016

UniCredit Bank Austria Named Best Trade Finance Bank in Austria

US financial magazine Global Finance selected Bank Austria for the eighth time in a row "Best Trade Finance Bank" in Austria.

January 21, 2016

Czechs Jirí Šmejc and Karel Komárek Want to Take Control of Casinos Austria

The Czech consortium Austrian Gaming Holding (AGH) of billionaires Jirí Šmejc and Karel Komárek, headquartered in Prague may soon be new majority owner of Casinos Austria AG. According to the Federal Competition Authority (BWB), Austrian Gaming Holding intends to increase one hand its stake in Medial to 88.89 percent and on the other hand to acquire 16.79 percent of Casinos Austria AG shares. Through these acquisitions, AGH will hold directly or indirectly 50.82 percent of the shares and thus acquire sole control of the CASAG.

January 21, 2016

Vienna Congress comsult 2016: "The Future of Growth"

"The Future of Growth" was the topic of the Vienna Congress com•sult 2016 which took place at Vienna's House of Industry. The Vienna Congress once again brought together prominent figures from the worlds of politics, economics and science to discuss future development of different aspects, focusing on the issue of migrant crisis, which has been one of the greatest challenges faced by European states and institutions in every sense. Distinguished participants from industry, politics and the business community such as Milica Pejanovic, Mohamed ElBaradei, Mario Monti, Markus Rogan, Dan Shechtman and Guenther Fehlinger discussed perspectives and strategies for new growth in Europe.

January 20, 2016

Robert Zadrazil Takes Over the Helm of Bank Austria from Willibald Cernko

After having been board member of Bank Austria for ten years, Robert Zadrazil (45) will now step it up and replace Willibald Cernko (59) who will step down as of 1 March 2016. The bank speaks of a generation change.

January 18, 2016

Black Diamond Equipment Relocates European Headquarters from Switzerland to Austria

Producer of climbing, skiing, mountain sports equipment Black Diamond will move its European headquarters from Basel to Innsbruck. Tim Bantle has been appointed Managing Director. Black Diamond is actively recruiting staff for the new office, with approximately 35 jobs across sales, marketing, customer service, operations and finance. The new office is expected to be operational in May 2016. Black Diamond Equipment was established in 1989 and has its headquarters in Salt Lake City in Utah.

January 14, 2016

Strabag Builds Hydroelectric Power Plant in Bosnia-Herzegovina Worth € 57 Million

A consortium consisting of Austrian construction group Strabag and Croatian industrial company Končar has been awarded the contract to build the Vranduk power plant on the river Bosna on behalf of energy supply company JP Elektroprivreda BiH.

January 11, 2016

EU to Crack Down on Postal Rip-Offs including Austrian Post

The FT reports that Brussels is preparing a regulatory crackdown against rip-off pricing by national postal operators on cross-border parcel deliveries. According to a study, cross-border parcel deliveries are often five times more expensive than identical trips on the domestic market. While the price of a standard 2 kg parcel delivery in Austria with the national postal operator is €4.44, to have that same parcel send to neighbouring Italy would cost €14. Sending the same parcel back from Italy to Austria will rise to €25. In order to connect the common market, the EU wants to develop the potential of e-commerce and to boost cross-border trade. According to the FT, a spokeswoman of the European Commission said that early next year the Commission will “launch measures to enhance price transparency and regulatory oversight” of the European parcel delivery market.

December 22, 2015

VSE: US Interest Rate Decision Likely to Increase Appeal of Austrian Stocks

The Vienna Stock Exchange can look back at a year of solid developments on the stock market in 2015. The uptrend in equity trading volumes has now been sustained for more than two years: trading volumes were up by 24.3%; the ATX gained 11.20%, and innovations in bond trading were the highlights of the year. Market capitalization on the Vienna Stock Exchange reached EUR 86.28 billion in December 2015. This was a gain of 7.86% over the year-end figure of 2014.

December 18, 2015

Biggest Viennese Real Estate Deal Ever - Sale of The Mall Closed

Bank Austria - via its subsidiary BAI - closed the sale of "The Mall", the largest and most modern shopping mall in the heart of Vienna. The buyer is a consortium led by Morgan Stanley Real Estate Investing (MSREI). UniCredit Bank Austria did not disclose the price, but claims that the transaction is Vienna's largest real estate deal ever.

December 16, 2015

UniCredit Final Restructuring Program on Bank Austria's Retail Business

UniCredit announced a major step in its strategic plan execution, by launching a profound restructuring program on its Austrian retail business that will enable Bank Austria to develop its business in a sustainable way, while bringing down significantly its cost income ratio. The restructuring plan will allow to reduce by 2018 Bank Austria's overall costs by € 150mn per year on an ongoing basis on top of the Strategic Plan and with main focus on personnel expenses, leading to an overall cost decrease by almost € 300mn versus 2014 in order to ensure the business sustainability in the long-run.

December 15, 2015

US Company Contour Moves European Headquarters from Paris to Vienna

The Vienna-based European headquarters will be the strategic centre for all thermal and renewable energy facilities in Austria, Italy, Czech Republic, Romania, Poland, Slovakia, Bulgaria, Armenia, Spain, Northern Ireland and Ukraine.

December 11, 2015

RBI Sells Slovenian Subsidiary to US Private Equity Firm Apollo

Raiffeisen Bank International AG (RBI) has reached an agreement to sell its Slovenian bank, Raiffeisen Banka d.d., to Biser Bidco, which is managed by an affiliate of Apollo Global Management, LLC. The purchase price has not been disclosed. The expected deconsolidation effect on RBI’s consolidated result will amount to minus EUR 49 million.

December 10, 2015

New Vienna Central Station Offers New Connections and Shorter Travel Times

With the timetable change on 13 December 2015, Vienna Central Station and Vienna Meidling train station will be assuming their full role as a regional transportation hub. Bringing together the Western, Southern, Eastern and Northern Routes at Vienna Central Station and Vienna Meidling, creates a transportation hub with direct connection to all Austrian state capitals as well as Vienna Airport. For travelers this means better connections, shorter travel times and more comfortable traveling.

December 7, 2015 · Updated: December 7, 2015; 18:15

Californian Woman Can Not Take Austrian Railways to Court in the US

Supreme Court says, Carol Sachs who was heavily injured in Innsbruck can’t sue in the US. Her lawsuit against the Austrian national railroad ÖBB for injuries that she suffered while attempting to board a train in Austria does not fall within the “commercial activity” exception to the Foreign Sovereign Immunities Act, and is therefore barred by the doctrine of sovereign immunity. The American wanted USD 20 million compensation from ÖBB.

December 2, 2015

VIG: Elisabeth Stadler to Replace Peter Hagen as CEO

Due to differences in opinion regarding the future strategic orientation and steering of the Group, Peter Hagen will be leaving his position as Chairman of the Managing Board of the Vienna Insurance Group on 31 December 2015. Elisabeth Stadler will become his successor.

December 2, 2015

Constantia Flexibles Acquires SE Asian Labels Producer Pemara

Constantia Flexibles Group strengthens its position in the Southeast Asia labels market by acquiring the Australian company Pemara Labels Group. The parties agreed not to disclose any financial details and the transaction is expected to close in the next few months. Pemara operates four plants in Australia, Malaysia, Vietnam and Indonesia, along with sales offices in Sydney (Australia) and Manila (Philippines).

December 1, 2015

Andritz Subsidiary Schuler Lands Large-Scale Contract in China

Schuler AG has received a further major order from FAW Volkswagen Automotive Co., Ltd. The Chinese company ordered press line with ServoDirect Technology and a servo tryout press for its Qingdao facility. With a total force of 81,000 kilonewtons, the servo press line will be mainly used to produce car body parts, such as hoods or doors. The order value is in the middle double-digit-million-euro range.

November 30, 2015

EBRD to Become 30 Per Cent Shareholder in Raiffeisen Bank Aval

The European Bank for Reconstruction and Development (EBRD) is about to become a 30 per cent shareholder in Raiffeisen Bank Aval JSC (RBA), a leading universal bank in Ukraine and a subsidiary of Raiffeisen Bank International AG (RBI), under an agreement signed in Kiev today.

November 25, 2015

Large Securitisation Deal between EIB and UniCredit Leasing Austria

EIB participates in securitisation transaction of UniCredit Leasing Austria with EUR 230.9 mil. The European Investment Bank (EIB) will make available EUR 230.9 million to UniCredit Leasing Austria through the purchase of asset-backed securities (ABS).

November 24, 2015

Hungarian Central Bank Buys Austria's 68.8% Stake in Budapest Stock Exchange

Austrian shareholders CEESEG and OeKB sell their 68.8% stake in Budapest Stock Exchange to Hungarian Central Bank for €42m ($45m), the Hungarian central bank confirmed officially.

November 24, 2015

VTB Bank Austria has Passed the European Central Bank’s Stress Tests

To meet these requirements, VTB Bank (Austria) AG boosted the capital, raising its consolidated capital ratio from 9.3% as of the end of 2014 to 13.7% as of the end of September 2015.

November 16, 2015

Bank Austria Posts Net Profit of EUR 660 Million for the First Nine Months

UniCredit Bank Austria announced that net profit in the three months to end-September dropped to 172 million euros from 291 million in the previous three months. As reported, the bank plans to terminate up to 14,000 jobs and restructure or exit its retail business in Austria and leasing operations in Italy as it seeks to strengthen its equity.

November 11, 2015

UniCredit - Bank Austria: CEE Operations Move from Vienna to Milan - Retail Business to be Sold or Restructured

Until the end of 2016, all CEE interests with currently 48,000 employees have to be transferred to Milan. Until now this division has been the most important earner for Bank Austria. The 13 banking subsidiaries of Bank Austria in Eastern and Southeastern Europe employ nearly 48,000 people - and thus the majority of the approximately 57,000 employees of Bank Austria. The retail banking business of in Austria with 1.6 million customers has to be sold or restructured, Unicredit announced in the afternoon.

November 11, 2015

Voestalpine Increased Revenue by 4.1% in First Half 2015/16

In the first half of the business year 2015/16 (April 1 to September 30), the steel group Voestalpine continued its performance despite an economic environment that – viewed globally – is inconsistent. In a year-to-year comparison, it increased its revenue by 4.1% from EUR 5.6 billion to EUR 5.8 billion.

November 11, 2015

Tensions Prior to Announcement of the UniCredit Savings Plans

It is rumored that the groupwide reduction of up to 14,000 jobs will be announced today. It is also about the future of Bank Austria. Bank Austria's parent UniCredit may withdraw the group's CEE head office from Vienna.

November 11, 2015

Insolvent DIY Chain BauMax Ended Its Operations

Insolvent DIY chain BauMax ended its operations completely on Friday with many stores sold to Obi of Germany. Seven stores did not attract a buyer. Some 700 employees in total are at risk of losing their jobs.

October 30, 2015

Alexander Lewald Named Chief Technology Officer of Kapsch TrafficComAG

Kapsch TrafficCom has announced that Alexander Lewald will be joining the Management Board of Kapsch TrafficCom AG as Chief Technology Officer effective November 1, 2015.

October 28, 2015

VIG Completes Acquisition of Latvian Non-Life Insurer Baltikums AAS

Vienna Insurance Group (VIG) has finalized the 100-percent acquisition of Riga-based Baltikums AAS. As a result of the acquisition, Vienna Insurance Group is now one of the top five insurers on the Latvian market.

October 27, 2015

Meinl Bank: Stephen Coleman to Become New CEO

Stephen Coleman will replace Günter Weiss, who must vacate his seat due to a ruling from the Austrian Financial Market Authority (FMA).

October 23, 2015

Bank Austria Sells Prominent Property "The Mall" to Morgan Stanley Consortium

UniCredit Bank Austria AG announces that the purchase agreement for the shopping centre The Mall at Wien Mitte was signed with Morgan Stanley Real Estate Investing (MSREI), pending approval by the antitrust authorities.

October 22, 2015

RBI’s Russian Subsidiary Sells its Pension Fund Business

RBI’s Russian subsidiary (AO Raiffeisenbank) closed the sale of its pension fund business (ZAO NPF Raiffeisen) to the Russian BIN Group. The transaction will result in a one-off gain before tax of around EUR 87 million for RBI, which will be booked in the fourth quarter of 2015. It has been agreed that the parties will not disclose the price at which the transaction took place.

October 19, 2015

Bank of China to Open Branch in Vienna

Bank of China, one of the 5 biggest state-owned commercial banks in China intends to open its first branch in Vienna in the near future, as its Chairman Tian Guoli recently said while visiting Vienna.

October 16, 2015

Wienerberger Annual Reports Ranked Among the Top 20 Worldwide

Wienerberger, the world's largest producer of bricks, has again won recognition for its Annual Report 2014 and also, for the first time, for its Sustainability Report 2014. Heimo Scheuch, Chief Executive Officer of Wienerberger AG, takes pride in these distinctions: "Open and active communication with all our stakeholders and the highest possible level of transparency are top priorities for us."

October 15, 2015

Life Sciences Field is Booming in Vienna

Nine percent revenue growth, five percent increase in the workforce and a large increase in business startups - Vienna as a location for life science businesses is attracting companies at a rate never seen before.

October 14, 2015

Steep Q3 Rise in Equity Trading Volumes on Vienna Stock Exchange

Despite the traditional sluggishness in summer months, trading volumes in equities rose steeply in Q3 2015 by 19.1%, climbing from EUR 11.41 billion (Q3 2014) to EUR 13.59 billion (Q3 2105).

October 7, 2015

PayLife Becomes SIX Payment Services

In September 2013, the Swiss financial services provider SIX acquired PayLife, the market leader for cashless payments in Austria, from the Austrian banks. With the acquisition and integration of PayLife SIX underlines its goal of driving international growth and its ambition to be among the leading European providers of card-based payments. Starting today, PayLife Bank GmbH is renamed SIX Payment Services ( Austria ) GmbH.

September 23, 2015

Erste Group Extends Andreas Treichl’s CEO Mandate to 2020

The Supervisory Board of Erste Group Bank AG extended Andreas Treichl’s mandate as Chairman of the Management Board until mid-2020.

September 17, 2015