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Romania

Volksbanken Group to Sell Stake in RZB

Österreichische Volksbanken-AG Group (VBAG) will sell its shares in Raiffeisen Zentralbank for almost € 500m. The redemption of state capital and the sale of VBI have been delayed.

June 28, 2011

Uniqa Sold Stake in Romanian Company

The Austrian insurance group sold its 27% holding in Astra for € 25m to the Nova Group.

June 27, 2011

Verbund: New Wind Farm in Romania

The Austrian electricity company will invest “several hundred million euros” in 77 new wind wheels which will go into service in 2012.

June 17, 2011

Immofinanz Acquires Romanian Property Developer

The Austrian real estate company buys the remaining stake for € 42.43m in order to become sole shareholder of Bucharest-based Adama.

June 16, 2011

New Motorway Order for Strabag in Romania

The Austrian construction company is going to build a motorway section between the cities of Orăştie and Sibiu. Order volume amounts to € 166m.

June 7, 2011

SW Umwelttechnik Still in the Red

The Austrian technology company reported a slight increase in revenue. EBIT improved from € -2.9m to € -2.5m.

May 25, 2011

Alpine to Build Motorway in Romania

The Austrian construction company is going to build a motorway section for € 91m within a period of 22 months.

May 24, 2011

Romania Offers Export Opportunities for Austria's Environment Industry

18 top Austrian companies active in the areas of environmental technology and renewable energies are present in Bucharest.

May 12, 2011

Wolf Theiss Identifies Opportunities in CEE Electricity Markets

Significant legislative changes particularly in Bulgaria and Romania, two of the most dynamic markets for RES-Electricity in the CEE/SEE region, have resulted in a dramatic increase in investor and other stakeholder interest in such projects.

May 3, 2011

SW Umwelttechnik Reports Satisfying Rise in Sales

Sales of the Austrian technology company were up by 12%. The company completed its first major export projects in Bulgaria and Moldova.

April 28, 2011

Erste Group: Slight Increase in Profits Expected

UniCredit and RCB expect a slight rise in profits for Erste Group, despite bank taxes in Austria and Hungary.

April 27, 2011

OMV: No Increase in Share on Petrom

The Austrian energy company OMV will not participate in OMV Petrom secondary public offering.

April 27, 2011

Shipping on the Danube is Far Below its Potential

Capacities are only being utilized in modest proportions on Austria’s main waterway. Investments in expansion would be necessary.

April 23, 2011

Hirsch Servo Opens New Plant in Romania

Expanding its eastern and southeastern European production network, the HIRSCH Servo Group is setting up another operation in Oradea/Romania. Production at the site will total some 600 tonnes of packaging material a year.

April 6, 2011

Romania's Premier: "Sale to OMV was a Huge Loss"

Prime Minister of Romania Emil Boc regrets the 2004 sale of the then government owned Petrom to Austria's OMV.

March 30, 2011

Difficult Search for a Buyer for OMV Refinery

The Austrian energy group has tried, so far unsuccessfully, to sell a refinery of its Romanian subsidiary Petrom. Now it will be closed down.

March 25, 2011 · Updated: March 26, 2011; 13:13

The Black Sea Region is Gaining in Significance for the Austrian Economy

Austria's sound foreign economic relations with the Black Sea region could be strengthened still further. The export structure of Austria is consistent to a large extent with the import demand of Ukraine and Turkey.

March 25, 2011 · Updated: March 25, 2011; 03:52

VBI: Romania Remains a Weak Point

The foreign holding of the Austrian Volksbanken group has to cope with credit risk provisions for € 160m from its Romanian subsidiary.

March 16, 2011

Immofinanz: New Tenants for Romanian Procect

The Austrian real estate group wins attractive international brands as tenants of its Romanian Maritimo Shopping Center in Constanta.

March 9, 2011

Wienerwald Grows Again

The restaurant chain is expected to start growing again after a long crisis. Investments worth € 20m are planned for the current year.

March 4, 2011

High Losses for ÖVAG-subsidiary

VBI, the subsidiary of foreign equity holding company of the Austrian Volksbanken-Group, realized losses in 2010 amounting to € 21.8m.

March 4, 2011

Tourism: Trend for High-Price Segment Continues

Austria's tourism industry shows itself satisfied with the current winter season. Guests come increasingly from Eastern Europe.

March 3, 2011

VBI: Purchase by Sberbank is Looming

The sale of the Eastern European holding company of the Austrian ÖVAG is taking shape. Even Chinese investors are interested.

February 25, 2011

Strong Growth for bauMax

The do-it-yourself group increased its sales in Austria and Eastern Europe in 2010.

February 18, 2011

Investments in Renewable Energies in the CEE are booming

According to a study by TPA Horwath, Austrian companies will expand massively their involvement in the field of renewable energies in the CEE region.

February 4, 2011

Strabag SE Awarded two Road Construction Contracts in Romania

The Austrian construction company rehabilitates and upgrades national roads DN14 and DN15A. Combined value of both contracts around € 106m.

February 2, 2011

Humanomed to Expand to CEE/SEE

The Austrian Humanomed-Group, a health care company, sees potential to expand to countries in (South) Eastern Europe.

January 28, 2011

Austria: The Gateway to Central Asia?

Leading Austrian politicians intend to attract attention at the World Economic Forum to what promises to be a new target region.

January 26, 2011

Vienna Insurance Group Shows 15% Increase in Profits

Significant plus of Group profit for the year (before taxes) by almost 15 percent to about € 505m. Increase of premiums written by 6.1 percent to € 8.7bn.

January 25, 2011

Volksbank: Romania Lowers Results

The losses in Romania constitute a distinct disadvantage, especially for the sale process of the East-Holding of the VBI.

January 19, 2011

SW Umwelttechnik: New Orders Totalling € 6.5m

OMS, the engineering company of the Austrian SW Group, won contracts in Hungary and Romania valuing a total of € 6.5m.

January 5, 2011

VBI Romania is a Source of Worries for ÖVAG

Volksbank International (VBI) is to be sold by the Austrian Volksbanken Group. The Romanian subsidiary keeps the group from doing so.

December 31, 2010

Austria's Labor Market Opens

As of May 1, 2011 the German and Austrian labor markets open for the new EU citizens. Romania and Bulgaria will follow suit in 2013.

December 30, 2010

ÖVAG: Sales Process of East-holding is Under Way

For the coming year, the Austrian Voksbanken are planning to restructure the Group. A buyer is currently being sought for the East-holding.

December 30, 2010

Russia Reaches for Volksbank International

VBI, the holding company for the Eastern interests of the Österreichischen Volksbanken, is for sale. Russian parties are interested.

December 15, 2010

New Logistics Center for Gebrüder Weiss in Romania

The logistics company Gebrüder Weiss has entrusted the construction of a logistics center in Sibiu to the Unger Steel Group as general contractor again.

December 14, 2010

OMV: Nabucco Underway as Planned

Austrian OMV considers that the gas pipeline project of European energy companies is developing according to plans.

December 10, 2010

Romania Sells Stake in Petrom

The state share in the Romanian Petrom, a subsidiary of the Austrian OMV, is to be reduced. OMV is interested.

December 7, 2010

Austria's Position in the CEE Region Shakes

According to the Roland Berger consultancy agency, Austria receives not only competition in the CEE countries, but the importance of the region also decreases from a global viewpoint.

December 1, 2010

bauMax Expands Further in Romania

On November 30, 2010 the Austrian DIY chain bauMax inaugurated its thirteenth Romanian market in Constanta.

November 30, 2010

Bank Austria: Growth Potential for Real Estate in Romania and Bulgaria

Despite the signs of economic revival, Bulgaria and Romania markets are still largely being ignored by international investors, says Bank Austria.

November 29, 2010

Strabag: Major Contract in Romania for 220 Million Euro

A consortium led by Austria's Strabag has won a contract to build a Romanian motorway for 220.6 million euro.

November 11, 2010

New Retail Project in Constanta for Immofinanz

A new center located in Constanta, Romania, offering international tenants business opportunities in 130 retail units, will be opened in 2011.

October 30, 2010

OMV: Complete Takeover of Petrol Ofisi Fixed

The deal is finished. Turkey will be the third main market for the OMV group.

October 22, 2010

Austria Continues Being the Largest Investor in Romania

"Romania is an important market in Eastern Europe for the Austrian economy. Its great importance for us is proved by the fact that Austria is by far the largest investor in Romania"

September 23, 2010

CEE Companies in a Turmoil

According to a study by Deloitte, last year Eastern Europe’s top 500 companies showed a clear decline in sales.

September 14, 2010

CA Immo International completes first phase of DIY store OBI in Romania

Construction phase one of the retail development project in Sibiu has been concluded - DIY store OBI opens with 9,700 sqm of usable space.

September 2, 2010
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