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Vienna International Industrial Company News
Austria: Alpine Creditors Register € 2.29bn
The downfall of construction company Alpine, the biggest bankruptcy in the history of the second Republic, has not been finished yet.
August 19, 2013
Russia: Rusal to Slip into the Red
Russian metal giant Rusal has to decrease production by 357,000 tons this year due to a drop in prices in aluminium. The company now hopes for state subsidy.
August 19, 2013
Austria: Construction Costs to Decrease Slightly
Construction cost index for residential buildings increased by 1.8 percent in July 2013.
August 16, 2013
Romania: GDP Slowed Down in Second Quarter 2013
Romania: GDP slowed down in Q2, as expected by RBI.
August 16, 2013
Mayr-Melnhof Group: Profits Above Last Year's Value
Results for the 1st Half-year 2013
August 15, 2013
Austria: Alpine-Energie to be Taken Over by Triton
Former affiliate of construction company Alpine Bau Alpine-Energie, which is based in Linz and was temporarily “parked” with a special company, has a new owner.
August 13, 2013
Wifo: Economic Growth with Brakes On
Economic upswing will take time. Considering the individual branches an uneven picture emerges.
August 9, 2013
Zumtobel: New energy management for more efficient operations
Tridonic site in Dornbirn achieves ISO 50001 certification
August 8, 2013
Palfinger: Revenue and EBIT Slightly Higher in 2013
Palfinger continued to profit from internationalization in the first half of 2013
August 8, 2013
Drastic Output Decrease in Czech Construction Sector
In June 2013 the construction output declined by 11.1%, year-on-year (y-o-y).
August 6, 2013
AMAG: Sales and Net Income Down
Due to the declining aluminum price, the Austrian aluminum producer posts smaller profits. All divisions working at full capacity.
August 2, 2013
Romania: Drop of VAT on Bread and Baked Goods
Around 70 percent of Romanian bread and baked goods are sold on the black market. A drop in VAT is supposed to change that.
July 31, 2013
Zumtobel Takes Over Chinese Affiliate
Listed light manufacturer Zumtobel Group has taken over the stakes of joint-venture partner Thorn Lighting Tianjin Limited.
July 29, 2013
Alpine: Financial Difficulties Existed Longer Than Assumed So Far
The crisis of insolvent construction company Alpine goes back much farther than assumed so far. The company had problems in 2009 already to settle invoices.
July 27, 2013
Austria: 82 Percent of Alpine Employees With New Jobs
After the construction company’s bankruptcy, 82 percent of Alpine employees have found a new job again. Around 100 persons are still working on the winding up of the company.
July 25, 2013
Voestalpine: Cartel Proceedings Finally Settled
voestalpine AG response to the German Cartel Office's rail cartel announcement issued yesterday.
July 24, 2013
Austria: Increased Demand in Romanian Exports
For the first time, Austria has imported goods from Romania exceeding the amount of € 1bn. Metals and machines are on top of the list of imported Austrian goods in Romania.
July 24, 2013
Alpine Inable to Pay in Mid-2012 Already
Former CFO supposed to have asked Spanish parent company FCC for liquidity assistance in the amount of € 115m, otherwise “we are dead”.
July 24, 2013
Vienna: Industrial Sector Shrinks
The Viennese industrial sector faces hard times. Not only the number of workers, but also the order intake is decreasing substantially.
July 18, 2013
Russian Economy Shows Insufficient Diversification
The Russian economy is primarily based on commodities, economists at the Moscow Higher School of Economics report. In the medium term, Russia has no growth potential, the experts say.
July 18, 2013
Austrian Industrial Sector Fears Drop in Exports
In the first five months of 2012, Austrian exports were only up by 3%. The outlook is rather gloomy. The Austrian Chamber of Commerce demonstrates pessimism.
July 18, 2013
Construction Industry Shrinks Drastically in Czech Republic and Poland
Euro area production in construction down by 0.3% and down by 0.2% in EU27.
July 17, 2013
Siemens Austria Plans Radical Job Cut
The Austrian subsidiary of the German technology group wants to reduce its workforce.
July 16, 2013
Austrian GDP Growth Above European Average
In 2012, Austria saw a growth of GDP of 0.9 percent which is signifantly above the European average.
July 12, 2013
Czech Republic: Gloomy Prospects for Economy
The Czech economy is shrinking. According to experts, new Prime Minister Jiri Rusnok will not be able to change much. Enterprises have started to cut back on investments.
July 12, 2013
Wienerberger‘s Brick Division Behind Expectations
Brick manufacturer Wienerberger informed investors about a rebound of the company’s biggest division: Business in Europe is considerably behind expectations.
July 12, 2013
Russian Car Market to Get New Lift
The number of sales of new cars in Russia has declined 11 percent. This is the fourth month in a row showing declines, according to the figures of the Accociation of European Businesses (AEB).
July 10, 2013
Alpine Bankruptcy Hits Clients Hard
According to real estate experts problems for home builders have just started.
July 10, 2013
Spindelegger: Fitness Program for Austria
Austrian economy supposed to be boosted by reforms of “Unternehmen Österreich 2025, and a rejection of new taxes.
July 10, 2013
Alpine Holding to be Shut Down
The closing down of Alpine Holding is only a “formality”. According to Österreichischer Verband Creditreform (ÖVC), a credit protection association, “a restructuring of the debtor is not planned and not possible”.
July 9, 2013
Alpine: Enormous Credit Default Rate
The rate for Alpine creditors declines day by day while the rate of the Trade Unions is immense. Almost all employees of Alpine were looking for help and advice.
July 8, 2013
Construction of voestalpine plant in US by Siemens and Midrex
voestalpine entrusts construction of the direct reduction plant in Texas to Siemens and Midrex.
July 5, 2013
Alpine: Serbia to Withdraw from Contract
Serbia intends to withdraw from the building contracts for the construction of a highway with bankrupt Alpine within the next 15 days.
July 3, 2013
Alpine Holding: Insolvency Proceedings Now Official
The insolvency proceedings for Alpine Holding have now officially started at the Commercial Court in Vienna. Liabilities come at € 700m.
July 2, 2013
Alpine: 2,600 Jobs Secured
Social Minister Rudolf Hundstorfer assumes that a lot of Alpine employees will continue to be employed. Former CEO Schiefer announced that Alpine was “clinically dead” when he took over management in April 2013.
July 1, 2013
Austria: So Far Three Construction Companies Involved in Take-Over of Alpine
1,800 employees of bankrupt Alpine can feel relieved. In all probability three Austrian construction companies (Habau, Swietelsky and Hinteregger) will be involved in the regional rescue solution.
June 28, 2013
Borealis to Invest EUR 65 Million in Porvoo Borstar PE Plant
Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, has announced a major upgrading project at its production site in Porvoo, Finland.
June 28, 2013
Alpine to Be Divided Up
Swietelsky plans to take over 1,500 employees. Strabag announced interest but remains unheard.
June 27, 2013
Magna Not to Leave Austria for Eastern Europe
“There will be no impacts on Austria or Styria“, a spokeswoman announced. Instead, a plant in Belgium will “probably” be closed.
June 26, 2013
Magna Opens New Engineering Center in Shenyang
Magna International Inc., announced yesterday that its Magna Steyr operating unit continues to strengthen its worldwide network of engineering services by opening a new engineering center located in the Tiexi District of Shenyang, China.
June 26, 2013
Alpine: Work to be Resumed At Construction Sites
Time pressure grows. Work at the closed down construction sites of bankrupt Alpine it to be resumed soon.
June 26, 2013
Mitterlehner: Romania Offers New Chances for Austrian Economy
Austrian Economy Minister Reinhold Mitterlehner met his Romanian counterpart Varujan Vosganian in Vienna.
June 25, 2013
Raids at Hypo Group in Italy
Because of suspicions of tax fraud Hypo Group’s affiliate in Udine was searched by the Italian police.
June 25, 2013
Austria: Government Agrees on Stimulus Package
Startled by construction company Alpine’s insolvency, the Austrian government has agreed on the fiercly discussed stimulus package. An amount of € 800m is required additionally.
June 25, 2013
Alpine: Biggest Bankruptcy in Austrian History
Bankrupt-gone construction company Alpine operates at 1,400 construction sites and is supposed to complete orders in the amount of € 800m. The shutting down of the enterprise has been decided.
June 25, 2013
US: Active Investor in Romania
US companies remained active investors in Romania last year. Particulary the IT sector, automotive industry and oil/gas sector are increasingly strengthening their local position. Foreign direct investments from the US came at more than $ 1bn.
June 24, 2013
Alpine to Be Shut Down
Bankrupt-gone construction company Alpine is facing a breaking down. After negotiations about establishing a rescue company failed, the enterprise will apply for a shutdown.
June 24, 2013
Alpine-Insolvency: 80 Companies Affected
After an analysis by credit protection association Kreditschutzverband 1870 (KSV1870), the majority of around 1,400 suppliers and subcontractors is not affected by the construction company’s bankruptcy.
June 21, 2013
Austria: Investigations on Loan to Alpine
Apparently ailing bank Hypo Group plays a role in the bankruptcy of Austrian construction company Alpine. The bank is supposed to have granted a bridge loan.
June 21, 2013
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