Vienna International Industrial Company News

Read the latest headlines about Austrian industries

ECJ Bans Exhaust Software: Anschober and Gewessler Demand Changes

The European Court of Justice has decided to ban software used to embellish exhaust emission values in diesel cars. Austria's Climate Protection Minister Gewessler and Consumer Protection Minister Anschober hope for a move by the car manufacturers in order to provide retrofits and compensate injured consumers.

December 17, 2020

WKO and IV: Need for "Climate Protection with Common Sense"

The heads of the Austrian Federal Chamber of Commerce (WKO) and the Federation of Austrian Industries (IV) demand appropriate framework conditions for climate-friendly behavior instead of the race for ever higher climate targets. Both Secretary Generals want "climate protection with common sense".

December 10, 2020

Further Increase of Investment Subsidy

The Austrian government has decided to increase its budget for investment subsidies. The high demand for this subsidy by companies located in Austria has exceeded the expectations of the government and is therefore adjusted upwards by another EUR 1 billion in order to further promote investments into digitalization, sustainability and other sectors.

November 30, 2020

Increase of Budget for Investment Subsidies to EUR 2 Billion

The Austrian Government has announced a budget increase for investment subsidies. A high demand and investment volume in the first three weeks of the application period has lead to this decision that is welcomed by the Federal Chamber of Commerce.

September 23, 2020

Environmental Support Act: 1 Billion for Climate Protection Support until 2022

The National Council is in favor of a budget increase dedicated to climate protection. In detail, the Environment Committee wants to raise the amount of funding to EUR 1 billion by 2022 which will be invested in biogenic heating networks, renovation of buildings and other measures.

September 17, 2020

2,300 Potential Job Losses in Steyr

The German truck and bus subsidiary MAN announced that 9,500 jobs are in danger due to reorganization of the company. 2,300 and therefore the total workforce of the production site in Steyr, Austria might be included in the cut.

September 11, 2020

Foreign Trade Has Partially Recovered from Crisis

According to the latest report from Statistics Austria, imports and exports are only slightly behind last year's number indicating an upwards trend after Covid-19 has impacted foreign trade significantly.

September 8, 2020

WKO Secretary General: Labor Market Situation Improves, But Remains Great Challenge

The secretary general of Austria's Federal Chamber of Commerce WKO recognizes a slightly positive trend in the labor market but underlines the importance of ongoing and future economic measures.

September 7, 2020

Austrian Technology Company Kapsch Will Cut Around 400 Jobs

Vienna-based company Kapsch is likely to cut about 400 jobs globally in the near future. The company has commenced a transformation program that will allow it to be successful in the future.

September 3, 2020

Economic Sentiment in Austria and the EU Brightened Further in August

Businesses and the population of the EU still have below-average economic sentiment although the expectations improved over the last month. The sharp decline due to Covid-19 is made up by about 60 % already.

August 31, 2020

Austrian Construction Company Porr Reports Losses in the Second Quarter of 2020

The second largest construction company in Austria, Porr, recorded losses in the first half of the year 2020. The obvious reason: Covid-19 and the subsequent shutdowns and restrictions.

August 27, 2020

Despite Covid-19 Crisis: Austrian Automotive Supplier Pollmann International Builds Plant in Mexico

Austrian company Pollmann International expands to Mexico where it will build a plant in order to better supply the Central and South American market.

August 25, 2020

Austrian Strabag Expands Rail Network in Eastern Germany

Austrian technology company Strabag will be significantly influencing the rail road system in eastern Germany because of a deal that has them extending rail lines in Berlin and between Leipzig and Dresden.

August 25, 2020

Vienna Based UNIDO Holds Expert Panel to Discuss Developments in Industry and Society

The United Nations Industrial Development Organization hosted an expert panel about the future of industry and society. Main topics were the advancement of attaining the sustainable development goals and shaping society as a whole.

August 21, 2020

Austria on the Advance of Early COVID-19 Detection in Sewage

In Austria a research group is analysing sewage in order to find genetic material from the Coronavirus. The data can be used for a regional early warning system and the identification of new clusters.

August 20, 2020

Statistics Austria: Inflation Has Risen to 1.7% in July 2020

According to latest reports, inflation in Austria has risen from 1.1% in June to 1.7% in July 2020. The pricing of clothing was the main driving force.

August 19, 2020

Can Glyphosate Now Be Banned or Not?

With the issue of the notification statement from the European Commission, the discussion about the Glyphosate ban is starting again. According to the Agricultural Ministry it is clear that the ban is not legally compliant. However, for GLOBAL2000 a ban is still possible.

August 19, 2020

Austria's Federal Minister for Economic Affairs: New EU Trade Agreement with Vietnam Opens Doors

New EU trade agreement with Vietnam is likely to open doors to a very profitable market for Austrian businesses. Federal Minister for Economic Affairs Schramböck hopes that domestic companies can capitalize on the favorable conditions in the future.

August 1, 2020

Austria Becomes Self-sufficient in the Supply of Mouth and Nose Masks

Hygiene Austria LP GmbH, founded only 4 weeks ago by a cooperation of Lenzing AG and Palmers Textil AG with the aim of producing and selling protective masks for the domestic and European market, was made known to a wider public today by the visit of Federal Chancellor Kurz and Minister of Labour Christine Aschbacher, and two weeks ago by the visit of Federal Minister Margarete Schramböck.

May 19, 2020

War for Global Telecom Infrastructure Supremacy: Vienna first EU Capital with Area-wide 5G Network

While the Third World War is raging backstage between the USA and China for world supremacy in 5G infrastructure, Huawei wins another milestone in Vienna. Digital City Councilor Peter Hanke has set the goal "Vienna should become the first city in Europe with a complete 5G network". The city is supporting the network expansion with 20 million euros.

May 18, 2020

Voestalpine: Short-time Work in 50 European Subsidiaries

The biggest economic challenge of the past decade represented by the coronavirus pandemic has hit the Austrian technology group Voestalpine hard. Short-time work in Austria and other European countries such as Germany, Belgium and France is unavoidable due to the slump in demand.

March 24, 2020

Upward Trend in Foreign Trade Between Uzbekistan and Austria

With 33 million inhabitants, Uzbekistan is the most populous country and Austria's second largest export destination in Central Asia.

November 18, 2019

Largest Austrian Listed Companies: Verbund Replaces Andritz in ATX five

The semi-annual review of the Austrian leading index ATX shows no change in the composition. However, Verbund AG is moving into the ATX five, which comprises the five largest listed companies, instead of Andritz AG from Styria, according to the Vienna Stock Exchange in a press release.

September 4, 2019

Wealthiest Austrian Deceased

Ferdinand Karl Piëch, former manager and major shareholder of Porsche Automobil Holding, died at the age of 82 after a visit to a restaurant. He was head of Volkswagen for almost ten years, later becoming Chairman of the Supervisory Board. He retired from the Group in 2015.

August 27, 2019

Relocation to Austria: How to Import Tax and Duty Free a Vehicle for Personal Use

It may be convenient to take your car with you when you relocate to Austria. The same applies to cars that may cost less abroad than in Austria. However, there are additional costs in addition to the purchase price (Eigenimport). The NoVA (Normverbrauchsabgabe) is due at the first registration in Austria for new and used cars. The NoVA varies according to age and model. However, you can avoid this under certain conditions.

August 7, 2019

BMW to Invest 28 Million Euros in Salzburg Location

Within the framework of a festive event under the theme "Good for Salzburg. Good for Austria." the BMW Group recently laid the foundation stone for its new BMW Group Campus Salzburg for Central and Southeastern Europe. BMW is investing 28 million euros in the expansion of 400 employees. The inauguration of the new campus is planned for autumn 2020.

August 5, 2019

Diplomats in Austria: How Does the Tax Exempt Purchase of Motor Vehicles Work?

New rules for the tax-exempt purchase of a motor vehicle from an Austrian car dealership concern the direct exemption from VAT and the normal consumption tax, which contributes to speeding up the tax relief.

July 9, 2019

Total Ban on Glyphosate in Austria Adopted

Austria is the first country in the European Union to ban the use of the controversial weedkiller glyphosate. The ban is legally controversial and could contradict EU law.

July 4, 2019

Benko-Hyatt Project - New Luxury Lifestyle Hotel Opens in Vienna in April 2019

The first Andaz Hotel in Austria, the boutique hotel "Andaz Vienna Am Belvedere" at the new Vienna Central Station, opposite the 21er Haus and the Schweizergarten, next to the park apartments at the Belvedere, is to be opened on 17 April 2019. It is the second project and a 50:50 joint venture between René Benko's Signa Group and Andaz Hotels, an affiliate of Hyatt Hotels Corporation.

March 1, 2019 · Sponsored Content

Austrian-Israeli Economic Relations - 20% Increase in Exports

On the occasion of the official state visit of Federal President Alexander Van der Bellen and the accompanying business delegation of the Austrian Chamber of Commerce, the issue of the actual state of economic relations has arisen. The Austrian-Israeli foreign trade volume amounted to 568 million euros in 2017, with a trade balance surplus for Austria of 229 million euros. The Chamber of Commerce reports that Austrian exports to Israel increased by 20.3% in 2017. The trend seems to have continued in 2018. More than 600,000 overnight stays by Israeli tourists make Israel one of the top nations in Austrian tourism statistics.

February 4, 2019

First BMW Z4 'Made in Austria' Has just Rolled off the Production Line

The new BMW Z4 has been rolling off Magna Steyr's production line for a few days now. The sporty roadster is produced exclusively in Austria for the entire world market. The BMW Z4 is - besides the BMW 5 Series - already the second BMW car that is currently produced in Austria. This emphasizes and strengthens the BMW Group's commitment to Austria as a business location.

November 22, 2018

The New Location Development Act - Significance for Austria's Attractiveness as a Business Location

The Austrian government has passed the highly controversial Location Development Act in the Council of Ministers, which will speed up environmental impact assessments, be passed by the National Council this year and come into force on 1 January 2019. The new legislation will introduce automatic permits for certain energy infrastructure projects (eg, electricity grids and power plants). Positive reactions are coming from industry and politics. Various environmental associations criticise the new law.

November 22, 2018

IAEA Laboratories in Seibersdorf - A Hub of Scientific Excellence

The laboratories of the International Atomic Energy Agency (IAEA) are located in the town of Seibersdorf, where scientists carry out unique work in support of global peace and development. Located 35 kilometres south of Vienna, the 10 laboratories play an important role in the IAEA’s activities in the areas of nuclear verification, food and agriculture, human health, industrial applications and the environment. Recently Austrian President Van der Bellen paid a visit to Seibersdorf.

October 16, 2018

Danube Region Business Forum - Infrastructure and Its Implications on Business in CEE and SEE

The Danube Region is one of the traditionally important markets for Central European regions and companies. However, the infrastructure of this region does not yet meet the requirements of the economy. The 8th Danube Region Business Forum will take place on 9 October 2018 at the Austrian Federal Economic Chamber in Vienna. The aim of the forum is to ensure that the infrastructural quality and cooperations in the region meet the requirements of the economy.

October 3, 2018

Bosch Austria Boosts Sales by 8% and Invests €120 Million in R&D

During the 2017 fiscal year, Bosch increased its sales on the Austrian market by around eight percent to 1.25 billion euros. "We have achieved record sales. All business sectors contributed to the positive development," said Dr. Klaus Peter Fouquet, sole board member of Robert Bosch AG and representative of the Bosch Group in Austria.

June 14, 2018

UNIDO: Achieving Sustainable Development Goals through Chemical Leasing

In 2004, with the support of the Government of Austria, UNIDO launched its Global Chemical Leasing Programme, promoting a business model that marks a paradigm shift from increasing the sales volume of chemicals toward a value-added approach. The fourth Global Chemical Leasing award ceremony will take place on 6 November 2018 in Vienna, Austria. It will be part of the Green Chemistry Conference 2018 within the Trio Presidency of the Council of the European Union (EU) programme, "Smart and Sustainable Europe", held during Austria's EU Presidency.

June 8, 2018

Car Dealer Denzel Increases Group Turnover by Twelve Percent

Vienna-based car importer and dealer Denzel sold around 45,000 vehicles in the past fiscal year and increased group sales by 12 percent to over 830 million euros.

May 17, 2018

OMV Receives Political Support for €1.3 Billion Purchase of Two UAE Oil Fields

An economic delegation led by Federal Chancellor Sebastian Kurz, with the participation of Margarete Schramböck, Minister of Economic Affairs, OMV CEO Rainer Seele and a small delegation had the main objective of supporting OMV in the concession agreement for the acquisition of a 20% stake in two fields offshore Abu Dhabi from ADNOC.

May 4, 2018

South Korea's LG Electronics Acquires Austrian Automotive Supplier ZKW for €1.1 Bln

South Korean electronics manufacturer LG Electronics is acquiring the Lower Austrian lighting and electronics systems specialist ZKW for more than 1.1 billion euros. It plans to buy a 70 percent stake in ZKW Holding, a supplier to Mercedes-Benz and BMW. Its holding company LG Corp. will purchase the remaining stake for 330 million Euro. LG hopes to expand its position in the automotive lighting sector for self-driving cars. ZKW was previously wholly owned by the entrepreneur Ulrich Mommert.

April 26, 2018

Doppelmayr to Build Cable Liner at London Airport

At London Luton Airport, Doppelmayr is building a cable car almost two kilometers long with a capacity of 2,720 passengers per hour and per route. This makes Luton Airport the second airport project in the UK after Birmingham for Doppelmayr. The Cable Liner is scheduled to go into operation in April 2021. Doppelmayr does not give details of the project turnover.

April 23, 2018

Palfinger: Andreas Klauser Appointed New CEO

The Supervisory Board of Palfinger AG concluded its search for a new CEO. Andreas Klauser (53), an accomplished top manager with international experience, who is currently the Global Brand President of Case IH and STEYR as well as member of the Group Executive Council of CNH Industrial, has been chosen to fill the position. He has more than 25 years of experience in the area of agricultural machinery and commercial vehicles.

April 16, 2018

Lenzing Resolves to Increase Special Dividend to EUR 2.00 Per Share

This year's Annual General Meeting of Lenzing AG resolved today, Thursday, April 12, 2018, to distribute a dividend of EUR 3.00 per share as well as a special dividend totaling EUR 2.00 per share. On balance, the dividend will amount to EUR 5.00 per no-par value share for the 2017 financial year (compared to EUR 4.20 per share in the previous year). The dividend payment is scheduled to take place on April 18, 2018, whereas ex-dividend day is on April 16, 2018.

April 12, 2018

Opel-PSA Group Plans Job Cuts in Vienna

By summer, 140 employees are to leave the Opel plant in Aspern. A further reduction could be avoided thanks to a new transmission order from Opel parent Groupe PSA. Engines will be produced for the previous Opel owner General Motors (GM) until 2019/20. What comes after that is still uncertain.

April 6, 2018

Fire Brigade Equipment Supplier Rosenbauer: Profit Halved in 2017

Despite a record order intake, the profit of the Upper Austrian firefighting equipment supplier Rosenbauer halved in the 2017 financial year. This was partly due to a slump in demand in the Middle East and North Africa, but also to the recently reported irregularities at a German subsidiary, which led to a write-down of EUR 3.5 million.

April 6, 2018

FACC Achieves Sales Record of EUR 750.7 Mln in 2017/18

FACC, the Sino-Austrian aircraft component manufacturer generated preliminary sales of 750.7 million euros, and the order backlog increased to US$ 5.9 billion. On March 19, FACC entered the ATX, Austria's leading index on the Vienna Prime Market, and has since been one of the 25 largest and most traded companies in Austria.

April 4, 2018

Austrian Delegation Seeks to Improve Economic and Political Relations with Jordan

An official visit of President Van der Bellen to Jordan will take place from 17 April to 19 April 2018. The delegation to Amman will be accompanied by an economic mission headed by WKO Vice President Richard Schenz. The economic mission of the WKO is the response of an invitation issued some time ago by the President of the Chamber of Commerce of the Kingdom.

March 8, 2018

AMAG Exceeds EUR 1 Billion Revenue Level for First Time in Its History

AMAG Austria Metall AG continued on its growth track in the 2017 financial year, achieving its best operating result historically (Revenue: +14 % to EUR 1,036.2 million; EBITDA: +15 % to EUR 164.5 million) and reaching a milestone for further organic growth with the commissioning of its new cold rolling mill and further finishing plants. Net income after taxes amounted to EUR 63.2 million (+36 %).

February 27, 2018

Egger Holzwerkstoffe to Issue Subordinated Bond

Egger Holzwerkstoffe intends to issue a deeply subordinated bond with perpetual maturity and an early redemption option for the issuer after five years (hybrid bond). UniCredit Bank AG has been mandated as Sole Structuring Advisor and Sole Bookrunner. Raiffeisen Bank International AG acts as co-lead manager.

February 26, 2018

Lenzing AG - Dividend Remains Constant, Special Dividend Higher

The Management Board of Lenzing AG has resolved to propose distribution of an unchanged basic and higher special dividend for 2017 financial year on the basis of its preliminary business results which have not yet been subject to a final audit. The dividend of EUR 3.00 per share is planned to remain constant, whereas the special dividend should be increased from EUR 1.20 to EUR 2.00 per share due to Lenzing's performance in the 2017 financial year.

February 26, 2018

KTM to Manufacture Motorcycles in China

The Upper Austrian motorcycle manufacturer KTM plans to produce motorcycles in China from 2020/21 as well. Currently KTM manufactures at the company headquarters in Upper Austria (Mattighofen), as well as together with the partner Bajaj in India (Pune).

February 23, 2018