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Spain in Austria | Spaniards in Vienna | Bilateral Relations

Without CESEE Business Alpine Would Still Exist

According to reports by auditor BDO and liquidator Stephan Riel, business in Austria remained profitable for insolvent construction company. If Alpine had never expanded business to CESEE it would still exist.

October 25, 2013

Bill Gates Becomes Second-Largest Shareholder in FCC

Spanish construction company and parent company of Austrian Alpine has a new shareholder: Founder of Microsoft Bill Gates has aquired a participation of around six percent.

October 22, 2013

IMF: „Banks and Companies in a Vicious Circle“

Not only Greece, Spain or Portugal are struggling with a financially stricken banking sector. In Southeastern Europe, the situation is quite similar.

October 11, 2013

Austria: Alpine’s Bankruptcy Claims Amount to € 4.15bn

In regard to construction company Alpine’s insolvency, creditors have so far registered claims in the amount of € 4.15bn, as announced by liquidator Stephan Riel in the run-up to Wednesday’s examination hearing.

October 8, 2013

Porr: Capital Increase and Rise in Profits Expected

CEO of listed Austrian construction company Porr Karl-Heinz Strauss is still in favor of a capital increase in 2014 or 2015 and calls upon the government to create “projects for the future”.

October 7, 2013

Austria Placed 9th in Competition Ranking

According to the latest EU Competition report 2013, Austria ranks ninth among 28 member states. The leaders in the ranking are Sweden, followed by Germany and Denmark while Bulgaria, Latvia and Romania are at the lowest positions.

September 25, 2013

Alpine: Almost All Former Employees Have New Jobs

Because of the construction company’s bankruptcy, almost 5,000 employees lost their jobs. Currently 133 persons are still looking for a job.

September 24, 2013

Porr Lands Ikea Contract in Poland

The Austrian construction company Porr has landed two contracs in North Poland for a total volume of € 150m.

September 24, 2013

Austria: WKO Demands Impulses for R&D

Deputy President of the Austrian Chamber of Commerce (WKO), Martha Schultz, demands new impluses for research and innovation in the years from 2014 to 2020.

September 19, 2013

Wifo: Economy Remains Competitive Despite High Wages

Head of Wifo (Austrian Institute for Economic Research), Karl Aiginger, calls for a change of views in economic policy as competitiveness is more than just low costs.

September 18, 2013

Strabag Lands Major Order in Sweden

Strabag developing and building infrastructure highlight Orgelpipan 6 at Stockholm's Citybanan commuter station.

September 16, 2013

Austria Requires More Risk Capital

On an international level, the risk capital investments in domestic enterprises are low at only 0.04 percent of GDP.

September 12, 2013

OMV: Oil Discovery in Northern Europe

Austrian Energy Enterprise OMV has discovered significant amounts of oil in the Barents Sea. Around 200m to 500m barrel are estimated to be exploitable.

September 6, 2013

Alpine: Creditors in Austria and Poland Claim Refunds

Not only the labor market in Austria is burdened but also thousands of creditors have invested in bonds of the construction company and are now facing enormous losses.

September 4, 2013

German Affiliate of Alpine Sold

By the selling of the German affiliate of construction company Alpine 520 out of 1,250 employees will lose their jobs.

September 2, 2013

Massive Losses for Alpine: € 5bn in Debts

According to the reports of the insolvency administrators, reasons like a chaotic management and low-price offers that did not prove cost-covering led to massive losses in projects abroad.

August 29, 2013

Kapsch: Enormous Problems at Austrian Business Location

President of Federation of Austrian Industries (IV) Georg Kapsch confirms the criticism voiced by President of the Austrian Chamber of Commerce (WKO) Christoph Leitl and several other politicians by the Austrian People’s Party (ÖVP).

August 28, 2013

OMV: Biggest Additional Purchase in Company’s History

OMV invests billions in a participation in the North Sea: The Austrian energy company acquires stakes of Norwegian enterprise Statoil in oil and gas fields in the North Sea for around € 2bn.

August 19, 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

20,000 Bank Shops Have Closed Since Beginning of Crisis

60 percent of the costs in the business with private clients are caused by bank shops. Still, banks are hesitant to close them as they fear the loss of long-term clients.

August 12, 2013

OMV: Problems in Libya Slow Down Production

The total production of OMV in the second quarter of 2013 has decreased compared to the same period of time in the previous year and the first quarter of the current year.

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

Spanish and Polish Prime Minister Support EU-US Free Trade Agreement

On the occasion of a state visit in Madrid, Poland´s Prime Minister Donald Tusk declared that the free trade agreement between the U.S. and the EU would be a driver for economic growth. The EU must strengthen its energy strategy, Tusk said.

July 16, 2013

OMV Continues Expansion in Norway

OMV has been awarded six additional offshore exploration licenses in Norway, acting as operator for two of them.

July 5, 2013

Bolivia: “We Don’t Need a US Embassy“

Bolivian President Morales is still infuriated over the flight incident and considers closing of US embassy in La Paz. He is supported by his counterparts from Venezuela and Ecuador.

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

Vienna: Bolivian President Allowed to Continue Journey

Bolivan President Evo Morales had to land in Vienna after several European countries – among them Spain, France and Portugal – refused the right to overfly.

July 3, 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

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

Leitl: „Austrian Enterprises Need Further Growth Impulses“

The Austrian Chamber of Commerce (WKO) commits to budget consolidation but growth is the basis for a balanced state budget.

June 27, 2013

Alpine to Be Divided Up

Swietelsky plans to take over 1,500 employees. Strabag announced interest but remains unheard.

June 27, 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

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

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

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

Alpine Facing Bankruptcy

The restructuring of Austria’s second biggest construction company Alpine has failed. The enterprise therefore has to face bankruptcy.

June 19, 2013

Poland: Deputy Transport Minister Dismissed

Former Deputy Transport Minister alleged of corruption. Austrian construction company Alpine involved.

June 18, 2013

Alpine: Bondholders to Lose Assets

On Monday evening the decision was made for the financial reorganization of the Austrian construction company.

June 18, 2013

Alpine Can Take A Breather

Alpine’s liabilities amount to € 450m. Spanish parent company FCC is supposed to provide a capital injection of € 150m.

June 13, 2013

Dispute About Tender for Orient Express

The Orient Express once led through Romania. These days, this section is cause for legal disputes in connection with the tender in the amount of € 330m.

June 13, 2013

Alpine’s Fate Hanging By A Thread

The fate of Austrian construction company Alpine is hanging by a thread. If negotiations fail Alpine has to face its ruin.

June 13, 2013

Mayer-Melnhof Expands to Norway

MM Karton expands raw material supply for cartonboard production.

June 11, 2013

WKO Export Day in Vienna

On June 20, the Export Day (Exporttag) of the Austrian Chamber of Commerce (WKO) will take place in Vienna. Economic delegates from all over the world will be present.

June 8, 2013

Austria: Alpine to Require More Funding

Selling of affiliates will be postponed.

June 7, 2013

Czech Republic: Dumping Offers for Building of Highway

Major construction companies screw down prices for the building of a highway segment from Linz to Prague.

June 3, 2013

Leitl: „There Is No More Time To Waste“

Switzerland and Sweden pull away from the rest of the European countries in regard to international competitiveness, according to the latest IMD report, while Austria has been falling behind.

May 31, 2013

World Competitive Ranking: Austria Loses 7 Ranks

The World Competitive Ranking of Lausanne IMD Private School of Economics has become one of the most significant location comparisons on an international basis in the last 25 years.

May 29, 2013

FCC Wants Guggenheim Partners As Financial Ally

With debts having amounted to more than € 8bn, Spanish parent company of Alpine is now looking for potential financial partners.

May 24, 2013