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Vienna International Construction Industry News

Kovats Has to Increase Quota

The remaining divisions of the insolvent A-Tec Group are being valued. Kovats will not be able to avoid an increase of the quota for the creditors.

December 8, 2010

Kovats Remains CEO of A-Tec for the Time Being

Despite the resignation offer to the creditors Mirko Kovats, majority owner and founder of bankrupt A-Tec, stays on as CEO.

December 6, 2010

Andritz Criticized Because of Belo Monte Hydroelectric Power Plant

After being sharply criticized by church organizations because of a construction project in Brazil, the plant manufacturer now turns to the public.

December 6, 2010

Andritz Purchases and Restructures AE&E Austria

The Styrian plant builder buys the A-Tec subsidiary for rumored € 10 million. Restructuring plan is to be financed by Andritz.

December 3, 2010

Stuttgart21: Strabag and Porr Hope for Major Project

The two Austrain building companies, Strabag and Porr, are struggeling for the disputed major infrastructure project in Germany, Stuttgart 21.

December 2, 2010

Strabag Receives Major Project in Poland

Construction of new railway and bus station of Katowice operated by the Austrian building company Strabag.

December 2, 2010

Doppelmayr: Slight decline in Sales but Good Result

Doppelmayr, The aerial and surface ropeway manufacturer from Vorarlberg underwent a slight drop in sales, but net income hasincrea sed significantly. Cautious optimism is being shown.

December 1, 2010

It Is Official: Deripaska Is Back at Strabag

Basic Element group exercises the call option for 17 percent stake in Strabag.

December 1, 2010

A-Tec in the Red

The insolvent Vienna Stock Exchange listed company undergoes sales declines and a negative EBIT.

November 30, 2010

Stable Results and Sales Growth for Swietelsky

The Upper Austrian construction company recorded a strong growth in sales (+7.1%) in the first half-year. Results only vary slightly.

November 30, 2010

Major Order for Porr in Libya

Porr builds a sports stadium with a Turkish partner. The contract is worth € 220 million euro.

November 29, 2010

Strabag Records Small Decrease in Sales

EBITDA was up by 8% to € 476m, EBIT up by 10% to € 193 m. EPS rises by 5% from € 0.90 to € 0.95.

November 29, 2010

Insolvency of AE&E

No agreement over the purchaser of the AE&E subsidiary could be reached. However, Andritz is still considered as a prospective buyer.

November 26, 2010

AE&E: Next Insolvency is Coming Up

A subsidiary of the insolvent AE&E group in Raaba is negotiating with the Styrian plant manufacturer Andritz. They have time until Friday.

November 25, 2010

Hirsch Servo Still Records Losses

Sales were up by 27% in the first quarter. Hirsch already experiences an upward trend, the turnaround is expected in 2011.

November 25, 2010

AE&E Files Insolvency Application

After weeks of negotiations between AE&E's creditor and the banks, no continuation is possible. Talks ended without reaching an agreement.

November 24, 2010

India: New Promising Market for Austrian Supply Industry

Car sales in India rise steadily by 30%. Indian vehicle and component manufacturers are increasingly showing interest in foreign technology.

November 23, 2010

Siemens Austria: New Orders from Bangkok

The Thai BTSC has placed an order at Siemens for 35 additional intermediate cars for the city rail system. Works in Bangkok start in 2012..

November 22, 2010

AE&E: Survival Less Likely Every Moment That Goes By

While the participants at the negotiating table constantly change, bankruptcy is imminent. An A-Tec without AE&E is now being worked on.

November 22, 2010

Siemens Austria Participates in Construction of Zagreb’s Main Train Station

The consortium Siemens AG Österreich and Elektrokem d.o.o from Zagreb has been awarded the contract for the delivery of a modern electronic switch system

November 18, 2010

AE&E: Negotiations Under High Pressure

The negotiators must reach an agreement still today in order to avoid the insolvency of the industrial plant manufacturer AE&E.

November 18, 2010

A-Tec: New Hopes with Ronny Pecik?

Pecik, a former associate of Kovats might get again into A-Tec. Several years ago, the investors separated because of differences.

November 17, 2010

AE&E: Staff asks for continuity concept

The staff of A-Tec's subsidiary AE&E (Austrian Energy & Environment) call on the negotiators in the restructuring process to ensure continuity.

November 17, 2010

Strabag: Takeover of h s energieanlagen Austria

STRABAG SE increases its stake in h s energieanlagen Austria from 43 percent to 100 percent in order to enlarge fluidised bed technology for energy production.

November 17, 2010

AE & E: No Agreement on Sale Talks

No agreement could be reached with the interested party from Hong Kong. The search for a buyer is under intense pressure of time.

November 16, 2010

Procurement: Economy Welcomes Extension

Economic Chamber President Christoph Leitl welcomes the planned extension of the threshold values regulation by one year as an important growth impulse

November 16, 2010

A-Tec Subsidiary: Negotiations with Banks have Failed

The Kreditorenschutzverband (KSV, Creditors Protection Association) has confirmed that negotiations have failed. The Styrian AE&E is to be sold.

November 15, 2010

AE&E: New Details on Negotiations

Negotiations over the troubled A-Tec's subsidiary AE&E continue, but they get an unexpected sideshow.

November 12, 2010

Porr Group: Slight Decline in Sales, Cautious Positive Outlook

The Porr Group’s development against the background of the economic crisis is relatively stable. The CEE region is still below expectations.

November 12, 2010

Pankl Announces Results for 2009/10

The Styrian company Pankl Racing Systems AG presented its preliminary results for the 12-Month period in fiscal year 2009/10. Revenues grew by 20.5 percent in Q4.

November 11, 2010

Strabag: Major Contract in Romania for 220 Million Euro

A consortium led by Austria's Strabag has won a contract to build a Romanian motorway for 220.6 million euro.

November 11, 2010

Frauenthal Announces Results for Third Quarter of 2010

The process of consolidation at the Frauenthal Group continued according to schedule in the third quarter: revenues increased by 17.8%.

November 11, 2010

Palfinger: Upward Trend in the First Three Quarters 2010

Market recovery and savings measures allowed for above-average increase in earnings. Revenue grew by 19.9 percent to € 464.9m

November 11, 2010

Strabag SE With Optimistic Outlook for 2011 and 2012

The building company expects its output volume in 2011 to amount to € 13.5bn, the EBIT in 2011 is estimated to account for € 295m.

November 10, 2010

Construction Costs: Continuous Upward Trend

Just as previously, construction prices continue rising in Austria. There is no end in sight for the upwards trend.

November 10, 2010

A-Tec: No Agreement Yet

According to the boss of the Kreditorenschutzverbandes (KSV, Creditor Protection Association), Hans-Georg Kantner, there will still be no solution on today Monday. Negotiations are still underway.

November 8, 2010

Strabag Intensifies Russian Business

Deripaska´s Rasperia repurchases 17 percent of STRABAG. In addition, Strabag acquires a 26 % stake in Russian construction company and signs a € 350 million contract.

November 8, 2010

Strabag: Time is Running Out for Deripaska

The re-entry of Deripaska into the largest Austrian construction group is to be fixed still this weekend. His comeback has been expected for several weeks.

November 5, 2010

A-Tec: Compromise Between Banks and Creditors

The creditors of the ailing industrial group A-Tec have been able to reach a compromise with the banks to provide further financing for the Group.

November 5, 2010

Wienerberger Records More Profits, but Less than Expected

Wienerberger AG recorded a 7% year-on-year increase in operating EBITDA to € 82.2 million for the third quarter of 2010. However, analysts expected even more.

November 3, 2010

Strabag and Alpine Suspected of Cartelization

Damages for 2 billion euro (2.8 billion dollars) are said to be the result of forming a construction cartel for motorway construction in Slovenia.

November 3, 2010

Strabag CEO Haselsteiner: Koralmtunnel Has To Be Built

Haselsteiner reacts sharply to criticism of the construction of the Koralm tunnel. He sees the infrastructure measure as economically sensible.

November 2, 2010

A-Tec: Financing Only Secured Until January

The plan of the creditors' committee was rejected. The Banks are consulting with each other for the financing of the ailing A-Tec group, after which the creditors’ committee will present a new proposal to the credit institutions.

November 2, 2010

A-Tec: Banks Working on Counter-Proposal

After the fruitless negotiations, the banks plan to draw up a counterproposal. In addition, a British investor is showing interest in joining.

October 30, 2010

Kovats in Distress: Rescue Package Must Stand Firm by Monday

The coming days are of utmost relevance for Mirko Kovats’s insolvent A-Tec Group. The rescue package must be ready by Monday.

October 29, 2010

Wienerberger Plans Full Takeover of Semmelrock International

The purchase of the remaining 25% stake in Semmelrock International has been announced today. Wienerberger regards the acquisition as a “logical step”.

October 29, 2010

STRABAG Builds the Koralm Tunnel

The controversial project will be built by the construction group Strabag. The total investment amounts to around 600 million euro.

October 28, 2010

A-Tec Restructuring: Kovats Hands Over 25.1%

The banks inject new money into the insolvent company; Kovats has no longer the majority. If restructuring fails, the banks have realization authority.

October 28, 2010

A-Tec: Will 100 Million be Given Up by the Creditors?

The creditors' committee deliberates today on how the company will continue existing. Mirko Kovats, founder and CEO of the company, wants to make a "substantial contribution" to the issue.

October 27, 2010

Deripaska Again at Strabag

After Deripaska’s decision, and successful talks with Strabag boss Haselsteiner, the Russian oligarch is a partner in the construction group again.

October 25, 2010