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Vienna International Company News
Read the latest headlines about developments in international organizations, companies and institutions operating in Vienna, Austria
Volksbank Vorarlberg: High Losses in Switzerland
Commitment to financial advisor JML did not go as desired: losses up to 3.9 million euro
September 15, 2010
Investkredit and ÖVAG: As Of Now, They Have a Common Board
In addition to CEO Gerald Wenzel, Wolfgang Perdich, Martin Fuchsbauer and Michael Mendel are also members of the common board. The merger of both financial institutions is to take place in early 2011.
September 15, 2010
Telekom Austria Buys Two Bulgarian Cable Operators
Telekom Austria buys two cable operators in Bulgaria: Megalan Network and Spectrum Net. The two companies are worth 83 million euro free of debt; Telekom will pay about 72 million through Mobiltel.
September 15, 2010
Polytec Takes Off on the Stock Market. Huemer's Vision Blooms Again
The share of the auto supplier Polytec surprises the Vienna Stock Exchange with price jumps. "Who knows what is behind it," they say.
September 14, 2010
FMA and OeNB Welcome the Basel III Agreement
The package draws the right lessons from the financial crisis and provides for reasonable transition periods.
September 14, 2010
CEE Companies in a Turmoil
According to a study by Deloitte, last year Eastern Europe’s top 500 companies showed a clear decline in sales.
September 14, 2010
Asfinag Bond: The Motorway Operator Picked Up 1.3 Billion Euro
The local motorway operator Asfinag picked up 1.3 billion euro on the capital market.
September 14, 2010
Russian Fund Accuses RZB of Money Laundering
The Russian fund Hermitage Capital, which has been at loggerheads with the Russian authorities for years owing to a major tax fraud case, now accuses the Raiffeisen Zentralbank (RZB) for having aided and abetted the money laundering.
September 14, 2010
Magna - Siegfried Wolf to leave in November
Magna International Inc. today announced that Siegfried Wolf, Magna's Co-Chief Executive Officer, has resigned as a director and officer effective November 15, 2010.
September 13, 2010
EVN building cogeneration plant in Plovdiv/Bulgaria
Today, Prime Minister Bokyo Borissov, Provincial Governor Erwin Pröll and EVN's CEO Burkhard Hofer oversaw the ceremony for the construction of a highly efficient cogeneration plant in the city of Plovdiv.
September 13, 2010
OMV targets a 20% market share in Serbia
Important changes are foreseen for 2011 in the Serbian oil industry. Because, effective from January 1, the energy company NIS will lose, albeit theoretically, its artificially upheld monopoly position…
September 13, 2010
Plansee expands into India and China
Despite the decline in sales, the Tyrolean company Plansee expands into Asia.
September 13, 2010
Hypo: 700,000 € go from Berlin to KPMG
The auditing firm, formerly headed by the current Hypo-boss Kranebitter, received more money than previously known.
September 13, 2010
Vienna International Airport: 13.0% increase in passengers during August 2010
In August 2010 the number of passengers handled by Vienna International Airport increased 13.0% year-on-year to 1,991,481.
September 10, 2010
Erste Bank intends to become Austria´s leading bank by 2015
Erste Bank, the banking unit of Erste Group responsible for Austria, announced that it was planning to overtake Raiffeisen and become Austria´s leading bank by 2015.
September 10, 2010
Sugar cartel held Austria by the short hairs from 2004 to 2008
Südzucker, Agrana and another provider sealed off the Austrian sugar market by collusion from 2004 to 2008. The Competition Authority has filed an application for a fine. A chief witness has spilled the beans.
September 10, 2010
ÖBB: Layoff of 100 executives and 1,000 administrative jobs
In order to save the financially strongly ailing ÖBB, it is being set on a course of austerity by the new boss, Christian Kern, who has been appointed on Friday. 100 executive and 1,000 administrative jobs are to be cut within the next three years.
September 10, 2010
XXXLutz takes over Slovenia's largest furniture retailer
The furniture store XXXLutz recently took over Slovenia’s largest furniture retailer Lesnina.
September 10, 2010
Bauhaus arrives in Bulgaria via Vienna
The German do-it-yourself group Bauhaus, which controls all its CEE business from Austria, has ambitious plans for Bulgaria.
September 10, 2010
Hypo Alpe-Adria-Bank - The new Group Press Officer
Dominic Köfner to take on the role of Group Press Officer for Hypo Alpe-Adria-Bank International AG (HGAA)
September 9, 2010
Zotter intends to conquer German cities
The Styrian chocolate maker Josef Zotter wants to open chocolate shops in the German cities of Berlin, Hamburg and Munich. He is currently looking for experienced franchise partners.
September 9, 2010
Personnel-leasing PSL - 61 positions are tottering
As part of its reorganization, PSL wants to lease the company for a rent of 80 percent of the POA to the new PRS Personalservice GmbH.
September 9, 2010
Gambling - Awarding of Austrian concessions not in line with EU laws
After Germany, the domestic monopoly must also be abolished. According to the EU Court of Justice, the awarding of the concession to Casinos Austria is against EU laws due to the lack of a call for tenders.
September 9, 2010
Reorganiser Grossnigg is interested in S&T
The in deficit IT group S&T is about to be restructured. Format, the Austrian magazine, reports that reorganizer Erhard Grossnigg intends to take over the majority of shares.
September 9, 2010
Putin: Gas pipeline Nabucco with "little chance of success"
Putin gives the competition project of the South Stream gas pipeline little chance of being realized, because as of now, Nabucco has no suppliers.
September 8, 2010
Horváth & Partners Study - CEE remains attractive
A new study of the Horváth & Partners Management Consultants studied the success factors for setting up the subsidiaries of production sites in CEE.
September 8, 2010
Parker Hannifin opens subsidiary in Upper Austria
In the future, Parker Hannifin, a U.S. industry supplier, will operate in 17 CEE countries from Austria.
September 8, 2010
Energy - Three offers for Verbund power plants
Those interested are European companies. By mid 2011 the partial sale of Innkraftwerke shall be completed. Right now the current prospects review the economic documents.
September 7, 2010
Berlakovich - Agricultural subsidies must not fall
ÖVP Minister of Agriculture Berlakovich rejected the demand of EU Budget Commissioner Lewandowski. The agricultural budget is one percent of the EU budget and can not continue to shrink.
September 7, 2010
Riedel opens office in Shanghai
Georg Riedel, head of family-owned glass maker Riedel, has announced plans to put more focus on the firm’s investment in China.
September 6, 2010
Opel - Plant in Vienna Aspern provides EUR 10.6 million per year to Germany
The staff of the automotive plant of General Motors in Aspern provides around EUR 10.6m p.a. for the reorganization of German car producer Opel
September 3, 2010
Verbund calls extraordinary GM to decide on capital increase
Verbund appreciates positive decision of majority shareholder
September 3, 2010
VBAG Group result for the first half of 2010: positive development continued
In the second quarter of 2010, Österreichische Volksbanken-AG (VBAG) Group confirmed the turnaround of the first quarter.
September 3, 2010
Kapsch TrafficCom's South African subsidiary wins contract worth EUR 17.5 million
TMT Services and Supplies, the South African subsidiary of Kapsch TrafficCom has been awarded a contract by the City of Johannesburg worth approximately EUR 17.5 million.
September 2, 2010
CA Immo International completes first phase of DIY store OBI in Romania
Construction phase one of the retail development project in Sibiu has been concluded - DIY store OBI opens with 9,700 sqm of usable space.
September 2, 2010
Casinos Austria International in the red
The overseas subsidiary of Casinos Austria, Casinos Austria International (CAI), fell deep into the red in the first six months of 2010.
September 1, 2010
Casinos Austria Opens Casino in Glasgow
Third CAI project in 2010 – total investment of € 50 million.
September 1, 2010
Magna - Plan of arrangement completed
Magna's plan of arrangement to eliminate Magna's dual-class share structure has been completed.
September 1, 2010
Miba Acquires Producers of Power Electronics Components
Miba, strategic partner to the international engine and automotive industry, has acquired EBG and DAU, producers of power electronics components, as of September 1, 2010.
September 1, 2010
Registration numbers of new passenger cars are up
Provisional number of new passenger car registrations in August 2010: +10.4%.
September 1, 2010
Teak Holz issues convertible bond with value of EUR 10 million
The bond matures in five years and bears a coupon of 5 percent.
September 1, 2010
UBM with slightly improved results
Focus on hotels and housing, regional focus remains on Poland and Germany.
August 31, 2010
Strabag cutting down losses
The construction company increased its backlog by ten percent, the number of employees fell by six per cent, the net loss was cut in half.
August 31, 2010
Raiffeisen Centrobank AG - Interim Financial Report released
Raiffeisen Centrobank made the biggest contribution to the result of the group with a profit after tax of EUR 14.401 mn.
August 31, 2010
OMV to cover 9 percent of Romanian energy demand
The gas-fuelled power plant Brazi in Romania of Austrian energy group OMV is going to be ready by autumn 2011 and will then produce enough energy to cover 9 percent of the Romanian energy demand.
August 30, 2010
Hofer making 'organic' profits
Growth drivers are milk, fruit and vegetables. After a crisis based collapse in 2008 and 2009, the organic market increased significantly this year.
August 30, 2010
Kelag with more sales and profits
Economic recovery brought growth for the Corinthian energy provider in the first half of 2010.
August 30, 2010
Kommunalkredit back in black
Kommunalkredit AG earned €7.5m ($9.5) net, in the first half of 2010. It is the first period since the split in November 2009; a comparison with the previous year is therefore limited.
August 30, 2010
TeleTrader decreases loss, raises revenues slightly
TeleTrader, a stock-listed IT service provider, posted in H1 2010 a loss on ordinary activities of EUR 62,000 (US$ 48,819), which was slightly better than the loss in H1 2009 (EUR 170,000/US$ 215,900).
August 30, 2010
More profits and less jobs at Rosenbauer
The fire service supplier earned €14.64m ($18.7) this year, €4.21m ($5.37) more than a year ago.
August 30, 2010
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