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Sergey Monin Appointed as CEO of Raiffeisenbank in Russia

He succeeds Pavel Gurin who passed away at the start of September. The appointment is subject to approval of the Russian Central Bank.
September 30, 2011


Voith Hydro Receives Major Order from Russia

The plant manufacturer was awarded a contract for modernization of a Russian hydro power station. Presence in the country will be expanded through a joint venture.
September 29, 2011


World Tourism Day 2011: Guests from 50 Countries Visit Austria

According to statistics Austria, the diversification of the guest´s nationalities further increased. Culture-oriented travels become increasingly important.
September 26, 2011


Austrian Textile Industry is Optimistic

The Austrian Chamber of Commerce sees a positive development in the domestic textile industry, especially in the export sector.
September 12, 2011


Austrian Telekom: Social Democrats Warn of „Unfriendly Takeover“

For the executive director of the SPÖ, Günther Kräuter, “a new major shareholder from Egypt or Russia would be problematic.”
September 12, 2011


Sale of Volksbank International Finalized

The Eastern European subsidiary will be sold for a price ranging from € 585m to € 645m depending on business performance in 2011.
September 8, 2011


CEE Economic Forum: Green Trends for Eastern Europe

In 2011, Forum Velden in Carinthia celebrates its 5th anniversary. Since its foundation in 2006, over 1.500 experts, top-managers and politicians from over 25 countries have participated in the Forum.
September 7, 2011


CEO of Raiffeisenbank Russia Dead

Pavel Gurin, CEO of Raiffeisenbank in Russia, passed away, the Austrian Bank stated.
September 5, 2011


Emporia has Expansion Plans

The Austrian manufacturer of mobile phones for elderly persons intends to enter the US and the Russian market.
September 5, 2011


C.A.T. oil: EBIT Burdened by Higher Depreciation Expenses

The Lower-Austrian provider of oil and gas field services reported mixed results. Revenues increased by 24.4%, EBIT declined by 19.4% to € 10.0m.
August 30, 2011


Palfinger Closes Acquisition of Russian Inman

The Austrian crane producer completed the takeover of its Russian competitor. The deal is regarded as an important step in the company’s growth strategy in the CIS area.
August 26, 2011


Sberbank Reduces Offer for VBI after Drop of Share Prices

Sberbank wants to pay less for the purchase of Volksbank International after European bank shares have dropped more than 20%. Executives are going to meet on 28 August to negotiate the deal.
August 26, 2011


VBAG: Reduced Consolidated Net Income in First Half of Year

The Austrian bank recorded net income of € 1m. The result was negatively impacted by write-downs of Greek bonds.
August 25, 2011


Major Order from Russia for C.A.T. oil

The Lower-Austrian provider of oil and gas field services received new orders worth € 70m in Russia. The order book volume grew to € 239m.
August 19, 2011


FACC to Build Construction Plant in Russia

The Upper Austrian aircraft component manufacturer and its Russian partner invest a total of € 55m in Kazan. The new plant will supply components for commercial aircraft starting from 2013.
August 18, 2011


Martin Schwedler Appointed CEO of Raiffeisen Investment in Moscow

The previous board member of RIAG will focus on expanding the Austrian bank’s presence in Russia’s growing M&A and ECM business.
August 1, 2011


Immofinanz Generated New Funds in Russia

The Austrian real estate company reached an agreement on the refinancing of its logistics center in St. Petersburg. The new funds will be invested in further projects in Russia.
July 21, 2011


New Attempt for Oil Pipeline Bratislava – Schwechat

New impetus for the Austro-Slovak infrastructure project: The pipeline would link OMV to the Russian network.
July 20, 2011


VBAG and Sberbank Agree on Sale of VBI

After several months of negotiations the two banks have agreed on the main conditions of the sale of Volksbank International. The deal will be closed by the end of this year.
July 15, 2011


Volksbanken Group Speeds Up Sale of VBI

In the face of the looming negative result of the stress test, the Austrian bank is trying to conclude negotiations with Russian Sberbank.
July 13, 2011


Palfinger Takes Over Russian Inman

The Austrian crane manufacturer acquires its leading Russian competitor. Inman will generate revenue of € 20m this year.
July 11, 2011


OTP Bank Shows Interest in Volksbank International

The Austrian Volksbanken AG found a second potential buyer for its Eastern European subsidiary. The Hungarian OTP bank wants to expand into the markets where VBI has a presence.
July 7, 2011


Austrian Companies to Participate in Russian Research Center

The planned technology park will be home to up to 40,000 researchers. Twenty Austrian companies have expressed interest in participating in the project.
July 5, 2011


Sale of VBI to Be Signed in July

The Austrian Volksbanken Group and Sberbank have come close to an agreement on the sale of the Eastern European bank. The transaction price will be € 700m.
July 5, 2011


Kapsch TrafficCom Makes Important Step in Russia

A joint venture of the Austrian technology group has made it to the final stage of a tendering process for a Russian highway project.
July 1, 2011


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


EU Commission Blocks OMV’s Deal with Gazprom

The Austrian oil and gas company does not get its desired Russian partner as the EU Commission has rejected a share transaction between the two companies.
June 20, 2011


Emerging Markets Boosting FACC

The Austrian aircraft component manufacturer relies on joint ventures in order to benefit from strong growth in emerging markets.
June 20, 2011


Raiffeisen Expanding Its M&A Business in Russia

The Austrian bank group is planning a joint venture between RBI and RIAG in order to put the investment banking in Moscow on a new footing.
June 16, 2011


Shopping Tourism: Asian Visitors Spending Heavily

Russia remains the top shopping nation while Asian tourists' spending is increasing significantly.
June 14, 2011


Immofinanz Considering Listing in Warsaw

The Austrian real estate group would be interested in a listing if red tape were reduced. It is currently looking for acquisition opportunities in Poland and Russia.
June 7, 2011


Sberbank Targeting RBI

The Russian bank intends to expand its business to Kazakhstan and the Baltic countries. Both companies denied speculations about a potential capital injection.
May 30, 2011


OeKB Facilitates Austro-Russian Projects

A recently signed agreement will increase the cooperation between OeKB and Russian Vnesheconombank.
May 27, 2011


Alpine Lands Pipeline Project in Czech Republic

The Austrian construction company is going to build 105.8 km of a new gas pipeline. The contract value is € 76.7m.
May 26, 2011


Novomatic Returns to Russia

The Austrian gaming machine manufacturer intends to cooperate with a Russian casino operator after it had to pull out of the country in 2009.
May 23, 2011


Austrian Companies Are Looking for Opportunities in Russia

A delegation of 140 people pursues contacts with potential partners during the state visit of President Fischer. The country’s economy is predicted to grow by 4% in 2011.
May 19, 2011


Major Contract for FMW

The Austrian industrial plant manufacturer wins a contract worth € 80m with one of Russia’s leading mining and metallurgical companies. Revenue already doubled to € 65m last year.
May 16, 2011


Immofinanz Closes Acquisition in Moscow

The Austrian real estate group takes over 100% of the GoodZone.
May 11, 2011


Immofinanz Strives for Presence in Russia

The Austrian real estate group plans to expand its activities further through the purchase of shopping centers in Moscow.
May 3, 2011


Tondach Gleinstätten is Awarded Exclusive Contract in Russia

Tondach Gleinstätten AG is awarded the contract for the supply of roofing materials for the Olympic project "Sochi 2014”
May 3, 2011


Eastern Europe as Growing Market for Austrian Wine Exports

Around 80% of the Austrian wine exports are going to Germany. However, growth rates in Russia and Poland are surprisingly high.
April 23, 2011


Russia is a New Promising Market for Kapsch

The Austrian technology group has reaped its first contract in Russia. The market has great potential, according to sources from Kapsch.
April 12, 2011


Mitterlehner: New Modernization Partnership Concluded with Russia

Minister of Economy: Investment opportunities for companies boost exports to Russia: innovations and new technologies as growth drivers.
April 1, 2011


VIG Leaves Russia

The Austrian Vienna Insurance Group accepts the offer to sell its Russian insurance participations.
March 31, 2011


RLB Upper Austria Intends to Grow in Russia

The regional bank Raiffeisenlandesbank Upper Austria (RLB) purchased a 2.95% share in the South Russian Krayinvestbank in Krasnodar.
March 14, 2011


FACC is Considering Going Public in Asia

The Austrian aircraft component manufacturer could soon be listed on the stock exchange in China.
March 11, 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


Agrana Expands in Russia

The Austrian sugar and starch company invests € 27.6m in fast-growing Russian market.
February 23, 2011


Southstream: Gazprom-OMV Cooperation

OMV and Russian Gazprom will work together on the construction of the Austrian part of the Southstream pipeline.
February 22, 2011