Austria and Germany - Read the latest headlines about bilateral relations in the areas of economy, business, investment, diplomacy, culture and tourism
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Germans in Vienna | Deutsche in Wien | Bilateral Relations

Joschka Fischer: „Nabucco is in time“

The former Minister of Foreign Affairs of Germany, Joschka Fischer, is optimistic regarding the realization of the Nabucco Gas Pipeline.

September 6, 2011

Alpine Reports Drop in Earnings

Austria’s second largest construction group incurred a loss of € 3.1m in the first half of the year. Strong growth in construction output was offset by increasing material and personnel expenses.

August 31, 2011

Jaan Albrecht to Become CEO of Austrian Airlines

After ten years as CEO of Star Alliance the German-Mexican dual national will head the Austrian carrier starting on 1 November.

August 31, 2011

Novomatic Continues on Growth Course

The Austrian gaming machine manufacturer achieved a plus in revenue of 17% in the first half of the year. EBIT remained stable at € 108.6m.

August 30, 2011

Frank Stronach to Apply for Casino Licenses

The Austro-Canadian founder of Magna and the German Gauselmann Group establish a company with the goal of entering the Austrian gambling market.

August 26, 2011

Rosenbauer: CEO Wagner Retires

The boss of the Austrian manufacturer of fire fighting vehicles draws the consequences from the company’s involvement in cartel agreements on the German market.

August 26, 2011

German Municipalities to Sue Rosenbauer

After the antitrust fine of € 10.5m, the Austrian manufacturer of fire fighting vehicles might face damage payments to German municipalities. CEO Wagner refuses to step back.

August 23, 2011

Ecowind Acquired by German BayWa

Europe’s largest agricultural trading company pays € 4.6m for a 90% stake in the Austrian project company.

August 23, 2011

Trenkwalder to Be Taken Public by New Owner

The new German majority owner of the Austrian personnel leasing company is planning an IPO in Vienna or Frankfurt.

August 16, 2011

Strabag to Cooperate with German Engineering Company

The Austrian construction group entered into a co-operation in the field of power engineering. The agreement is expected to strengthen the group’s position in existing markets.

August 11, 2011

BayernLB Demands Rescission of Hypo-Deal

The German bank has taken action against the employee fund which is accused of having misled the management about Hypo’s equity base.

August 10, 2011

Declining Sales for Schlumberger

Revenue of the Austrian champagne and spirits producer dropped by 3.9% in the first quarter of financial year 2011/12.

August 10, 2011

S&T Deeper in the Red

The IT service provider recorded higher losses in the first six months of 2011. The Austrian workforce has been reduced by one third since October.

August 10, 2011

Strong Sales Growth for Plaut

The consulting group, which is listed at the Frankfurt Stock Exchange, announced a 16% sales increase. EBIT improved to € 420,000 in the first half of 2011.

August 10, 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

AutoBank with Improved Half-Year Results

The Austrian specialist bank increased new business volume by 4.2%. Stable growth was achieved in all areas.

August 1, 2011

Austrian FDI Recovered Slightly in 2009

The value of Austrian investments abroad grew by 6% in 2009 and amounted to € 113bn. Companies still felt the impact of the crisis on their profits.

July 26, 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

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

voestalpine Sues EU Over Plans for Carbon Emissions

The Austrian steel company and four German competitors filed a lawsuit against the EU. They argue that CO2 emission targets are unrealistic and unachievable.

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

update software AG Returns to Profitability

The Austrian software company, which is listed on the Frankfurt Stock Exchange, is on its way back to black figures. Sales went up 29.2% in the second quarter, EBIT improved to positive earnings of € 0.2m.

July 20, 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

Austria’s Exposure in Italy: € 16.5bn

Domestic banks’ exposure in the neighboring country is much greater than in Greece, but smaller than in Eastern Europe.

July 11, 2011

Strong Development of Exports in Austrian Machinery Industry

In the first three months of the year, Austrian enterprises exported machinery and metalware for € 6.04bn. Germany is the main trading partner of the industry.

July 11, 2011

Economic Report 2011: Government Surprised by Quick Recovery

Experts praise Austria’s relatively stable performance during the years of crisis and call for reforms necessary for ensuring the country’s competitiveness.

July 8, 2011

Upswing in Business Location Projects

The national investment promotion agency registered a strong increase in the number of companies investing in Austria. The trend is expected to continue in 2011.

July 8, 2011

EVN Concludes Acquisition of Stake in Inn Power Plants

The Austrian electricity company purchased a 13% stake in Verbund’s hydroelectric power plants on the Inn river.

July 5, 2011

voestalpine is the Leniency Applicant in the German Rail Cartel

The Austrian steel company applied for leniency in the case of anti-competitive practices in the German rail tracks market. The group expects to be exempted from any fines.

July 1, 2011

Moody’s Gives Negative Outlook for Carinthia

Austria’s southernmost province received a negative outlook due to an increasing budget deficit, high debt and credit guarantees for Hypo Alpe Adria.

July 1, 2011

Wienerberger Received Green Light for Tondach Acquisition

The Austrian brick producer will transfer 50% of the shares in Bramac to Monier Group and, in exchange, receive a further 25% stake in Tondach Gleinstätten plus an additional payment.

June 30, 2011

Pfanner with Record Investment

The Austrian fruit juice and ice tea producer will make the largest investment in its history. A 5% increase in revenue is planned this year.

June 29, 2011

ACP Says No to IPO

The Viennese IT service provider has ruled out an IPO for the next two to three years as the market environment is “not suitable for medium-sized companies”.

June 27, 2011

Weak Start of Summer Season in Austrian Tourism

Tourism in May 2011: 11.6% less overnights and 7.9% less guests. The number of visitors from CEE increased strongly.

June 27, 2011

Austrian Labor Market Relatively Stable during Crisis

A recent study shows: The labor market has weathered the economic crisis. Politicians and companies have taken the right decisions.

June 24, 2011

Erste Group Manages Bond Issue of Czech Railways

The order book grew in only one hour to € 400m from 60 institutional investors. Approximately 75% have been subscribed by investors from Germany, the Czech Republic and Austria.

June 21, 2011

Bronze Medal for Austria’s Economy

According to a study by Allianz, Germany is the euro zone country with the healthiest economy. Luxembourg comes on the second rank followed by Austria.

June 21, 2011

conwert Interested in Billion-Euro Deal with LBBW

The Austrian real estate company is looking for partners to purchase the residential property portfolio of the German bank. Industry experts see a realistic chance for an acquisition.

June 20, 2011

CA Immo: Uniform Brand Appearance also in Germany

In the future, the Austrian real estate group’s German subsidiary Vivico Real Estate GmbH will operate under the brand "CA Immo".

June 20, 2011

Bilfinger Berger to Acquire Subsidiary of AE&E

The Czech subsidiary of the insolvent plant manufacturer will become part of the German construction group Bilfinger Berger.

June 20, 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

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

Raiffeisen Not Interested in Hypo

The Austrian bank group is currently expanding in Poland but it is not going to bid for Hypo Alpe Adria as an acquisition “would not make sense”.

June 6, 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

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

Wienerberger Acquires EuroCeramic

A subsidiary of the Austrian brick producer plans the takeover of Dutch-German EuroCeramic, a supplier of ceramic pipe systems.

May 25, 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

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