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Vienna International Industrial Company News

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

Significant Increase in Serbian Exports

Serbia's exports rose 6% and imports 4.1%.

August 1, 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

Eder Appeals for Reindustrialization in Europe

In an interview with Austrian daily „Kurier“, Wolfgang Eder, CEO of Austrian steel producer voestalpine talks about the future of the European steel industry and the differences to the US energy policy.

June 20, 2013

Alpine: Thousands of Jobs At Risk

Alpine’s Insolvency could cost thousands of people’s jobs. According to Social Minister Rudolf Hundstorfer, the Social Ministry would utilize all means to prevent a worst-case scenario. Alpine's affiliate in Germany is filing for bankruptcy as well.

June 20, 2013