Construction Industry

Slovenia: Calls for Reforms Become Louder

The Slovenian Chamber of Commerce (GZS) calls upon the government to accelerate the realization of reforms to boost economic growth.

January 8, 2014

Erste Group and Bank Austria Face Lawsuits

Two Austrian lending banks are involved both as plaintiffs and as defendants in bankrupt construction company Alpine’s court trials.

January 2, 2014

Czech Republic: Economic Sentiment Rises

As published by the Czech Statistical Office (CSU), the Czech economic sentiment indicator rose by one point to 5.5 points compared to November.

December 20, 2013

Slovenia: Growth Forecast Cut Again

The World Bank predicts a longer recession in Slovenia. The Slovenian economy will not leave the recession behind before 2015.

December 19, 2013

Austria: Slight Economic Growth

The Austrian Institute for Economic Research (Wifo) has forecast an increase of the macroeconomic production by 0.2 percent in real terms compared to the previous quarter.

November 14, 2013

Slovenia: Significant Decline in Business Confidence

Sentiment indicator lower than in the previous month In October 2013 (-13 percentage points) the sentiment indicator was 1 percentage point lower than in September 2013 (-12 percentage points).

October 28, 2013

Slovenia: Bailout Comes Closer

The ailing country is not expected to manage the financial crisis on its own. Calling for support from Brussels seems to be the last remaining alternative.

October 28, 2013

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

Czech Republic: Overall Confidence Grows

According to the Czech statistial office, the increase in confidence in the Czech economy continues.

October 24, 2013

House Searches at Strabag Subsidiary in Croatia

The corruption scandal at the Croatian Chamber of Economy affects public road authority HAC and construction companies that were commissioned, among them Austrian Strabag and Alpine.

October 22, 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

EBRD Analyzes Slovenia´s Difficulties

From October 21 to 25, a delegation from the European Bank for Reconstruction and Development will visit the ailing country.

October 21, 2013

Austria: Alpine Bankruptcy Caused Further Enterprises to Go Bust

Alpine’s bankruptcy has caused thirteen enterprises to slip into insolvency so far. Half of the companies are currently fighting for continuation, according to credit protection agency KSV 1870.

October 16, 2013

Slovakia: Mixed Employment Situation

In Slovakia, employment fell in the construction industry and in the manufacturing industry. Wages were up in most sectors.

October 11, 2013

Austria: Alpine Holds € 52m in Assets

Creditors of Alpine have very little chances of being compensated after the construction company declared bankruptcy. Currently Alpine holds € 52m in assets.

October 9, 2013

Czech Republic: Construction Industry Still Contracts

In August 2013 the construction output decreased by 8.1%, year-on-year (y-o-y).

October 8, 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

Strabag Lands Highway Construction Deal in Hungary

Austrian construction company Strabag has landed a deal for building a highway section in return for € 106m.

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

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

Austria: SPÖ and ÖVP Hold Slight Majority of Votes

According to the latest survey, the Social Democrats (SPÖ) and the Austrian People’s Party (ÖVP) will have to face losses in the elections of the National Assembly on Sunday. However, they should be able to hold the majority.

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

WKO: Austrian Enterprises Miss out on Potential in Turkey

According to a commercial councelor at the Austrian Chamber of Commerce (WKO) in Istanbul, Austria is focused too much on Eastern Europe. Switzerland exports triple the amount to Turkey.

September 19, 2013

Romania: Austrian Investors Demand Transparency

In an interview with Business Review Romania, Rudolf Lukavsky, commercial counselor for Romania and Moldova at the Austrian Embassy described the downsides and advantages of the economic environment in the country.

September 17, 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: Construction Company Porr to Buy Prajo-Group

Take over as an ideal supplement for the portfolio of Porr in the demolition and recycling sector.

September 13, 2013

Romania: Chinese Investors to Support Infrastructure Projects with € 3bn

According to the Romanian Infrastructure and Foreign Investments Department (DPIIS), investors from China will support the construction of new highways and electricity generating power plants in the amount of more than € 3bn.

September 11, 2013

Haselsteiner as Candidate for NEOS

Austrian party NEOS has added former CEO of Strabag Hans-Peter Haselsteiner as top candidate for the parliamentary elections. Haselsteiner has so far supported the party behind the scenes.

September 5, 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

Polish Alpine Files for Bankruptcy in Vienna

More affiliates of Alpine are affected.

September 3, 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

Turkey Wants to Become 9th Largest Economy by 2050

Turkey is hoping to become the ninth largest economy worldwide by the year 2050. Growth rates will be around 5.2 percent in the years from 2012 to 2017.

August 30, 2013

Alpine: Nine out of Ten Former Employees Have a Job

90 percent of former Alpine employees have a new job. However, 404 persons are still looking for a new employment.

August 30, 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

Alpine: Former Employees to Receive Wages

Almost 5,000 former employees of bankrupt construction company Alpine can feel relieved as this week the insolvency contingency fund will start with settlements. However, creditors will only be given a rate of five percent.

August 27, 2013

Austria: Debts of Alpine Increase to € 3.7bn

Gerhard Weinhofer of creditor protection association Creditforum counts with a “micro quota” for creditors of bankrupt construction company.

August 23, 2013

Leitl: “Austria Screwed Up”

If the US, as the perpetrator of the financial and economic crisis, shows two percent in economic growth, while Austria only 0.2 percent, then this was a “disgrace”, Leitl announced during the economic forum in Alpbach.

August 21, 2013

Eurozone: Minor Increase in Construction Production

In the construction sector, seasonally adjusted production rose by 0.7% in the euro area (EA17) and by 0.8% in the EU27 in June 2013, compared with the previous month, according to first estimates released by Eurostat.

August 20, 2013

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

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

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

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

Slovenia: Economic Sentiment Stabilizes

This year, Slovenia will not be able to leave the recession behind. However, the economic sentiment begins to improve in some sectors.

August 5, 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

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

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

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
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