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Binder Creates New Technology Company

Binder+Co AG has started the 2012 financial year with the foundation of a new subsidiary in the shape of Bublon GmbH. Binder+Co Group now consists of a total of four companies.

January 16, 2012

New Management for Microsoft Austria

With Georg Obermeier, the Austrian subsidiary of the U.S. software group has a new executive.

January 14, 2012

Downgrade: Government Surprised and Criticized

For the Austrian government, the downgrade by the U.S. rating agency is „not comprehensible”. The domestic industry urgently claims structural reforms.

January 14, 2012

Austria to Lose its AAA

According to partially confirmed market rumors, S&P will downgrade France and Austria.

January 13, 2012

Bank Austria Lost Madoff Case

Bank Austria distributed Primeo Funds, issued by the U.S. former investment banker Bernard Madoff. The prospectus did not contain sufficient information, a Viennese court decided.

January 13, 2012

Lenzing Continues Supply to U.S. Army

U.S. President Obama signs permanent import approval allowing the Austrian Lenzing AG to supply flame-resistant fibers to the U.S. Army.

January 12, 2012

Fitch: Austria´s AAA-Rating Not Endangered

According to the U.S. rating agency, the financial stability in Austria is still excellent. The bond auction today went well.

January 10, 2012

Petrom and Exxon Explore in Black Sea

Petrom, the Romanian subsidiary of the Austrian oil and gas group OMV, closed a partnership with the U.S. oil group ExxonMobil.

January 9, 2012

Substantial Decrease in Stock Market Turnover

The Vienna Stock Exchange recorded a decline in stock market turnover by 18% in 2011. This is also due to new taxes.

January 2, 2012

New Record for Austrian Wine Exports

Although the quantity of wine exports is shrinking steadily, the export volume worth € 126m reached a new record.

December 28, 2011

Emco With Growth Plans

The new owner of the former A-Tec subsidiary, now can begin to realize its expansion plans.

December 27, 2011

Kaufhof-Deal Not Closed Before 2012

The two main competitors for the German retail chain are the Austrian real estate investor René Benko and the U.S. investor Nicolas Berggruen.

December 17, 2011

Difficult Search for Investors at Wall Street

Austrian companies try to find new investors in the U.S. The relatively small size of Vienna Stock Exchange and the euro-crisis make this difficult.

December 8, 2011

Rating Agencies Are Seen As Threat

The governor of the Austrian Central Bank, Ewald Nowotny, attacks S&P. For the head of the economic research institute IHS, Bernhard Felderer, the negative outlook must be seen as a warning signal.

December 7, 2011

Austrian Foreign Trade Deficit on the Rise

From January to September 2011: imports rose by 17%, exports increased by 14%. The deficit amounts to € 6.0bn.

December 7, 2011

Increasing Gap in Incomes

Although Austria´s Gini coefficient is relatively low, the gap between high and low incomes becomes larger.

December 6, 2011

Only Small Increase in Exports in 2012

After a substantial growth in 2011, OECD expects only a slight rise in Austrian exports.

December 6, 2011

UK Court Freezes Assets of Kohn

A British judge froze funds of 27m pounds (€ 31.4m) of the Austrian former investment banker Sonja Kohn, who is accused to have participated in Bernard Madoff´s frauds.

December 3, 2011

Benko Puts Pressure on Kaufhof

The Austrian real estate investor René Benko presents his growth program and wants to outbid his rival, the U.S. investor Berggruen.

November 28, 2011

Investigations Against Benko

The Austrian real estate investor Benko is suspected for money laundering. Benko denies and sees a link to the Kaufhof-deal.

November 26, 2011

Austrian & CEE Investor Conference 2011 in New York

15 companies from Austria and CEE will participate in the conference on 28 November.

November 25, 2011

Analysts Expect Good Results for Kapsch TrafficCom

The Austrian toll system supplier will increase sales as well as earnings in the third quarter, analysts say.

November 22, 2011

Rosenbauer Reports Drop in Profit

The Austrian manufacturer of fire fighting vehicles registered record order intake of € 456m in the first nine months of the year. Revenues and EBIT came in lower than expected due to shipment delays.

November 18, 2011

Strong Growth for Exports to USA in 2012

This year, Austrian exports to the U.S. will reach the level of 2008. The export volume will amount to € 6.0bn this year.

November 12, 2011

Bawag Sues Linz For € 418m

The U.S.-owned bank now sues the Upper-Austrian capital. Linz has terminated a swap contract based on Swiss Francs.

November 8, 2011

Intercell Still Reports Losses

The Austrian pharmaceutical company could reduce its net losses from € 50.8m to € 20.62m. For the full year the net loss expectations ranges up to € 40m.

November 8, 2011

Starbucks to Expand in Austria

The U.S. company plans to strengthen ist market presence in Austria. In 2011, a double-digit sales growth is expected.

November 7, 2011

Linz Believes in Victory Over BAWAG

The capital of the province of Upper Austria filed a lawsuit against Bawag, which is held by the U.S. investment funds Cerberus.

November 2, 2011

bwin.party to Enter USA

The British-Austrian gambling company has now found a partner in ordert o provide its gambling services in the U.S.

November 2, 2011

Growth in U.S. Winter Sports Market as a Chance

Against 2010, the U.S. winter sports market shows a rise in sales of 12%. The Austrian winter sports industry regards this as chance.

October 25, 2011

R&D Expenses on the Rise

The largest Austrian Enterprises increased their budgets for research & development by 9.6% on average. This is slightly beyond the global average (9.3%).

October 24, 2011

Subway to Restart in Austria

The U.S. fast food chain aims to return to Austria. In 2005, Subway had to leave, which was due to the insolvency of a franchising partner.

October 24, 2011

GM Makes Major Investment in Austria

The U.S. corporation invests € 50m in its Viennese powertrain factory.

October 19, 2011

U.S. Investor Buys 44% Stake in Leica

The U.S. investment fund Blackstone acquired 44% in Leica Camera from the Austrian investor Andreas Kaufmann.

October 19, 2011

U.S. Company Claims $ 25m From Andritz

The U.S. company Ovalstrapping accuses the Austrian technology Company Andritz to have copied its technologies. Andritz defends itself.

October 19, 2011

Austrian Food Exports are Booming

About 66% of the domestic food production is being exported. Germany remains the most important foreign market.

October 10, 2011

UniCredit: Sale of Bank Austria?

According to market rumors, the Italian bank considers to sell its Austrian subsidiary in order to strengthen its own position. Bank Austria´s CEO Cernko denies fiercely.

October 8, 2011

Upper Austria Waits for Google

The Austrian province already has provided the infrastructure for the U.S. internet service provider google. But construction works for the data processing center did not began until now.

October 8, 2011

Layoff at UPC

The Austrian subsidiary of the U.S. group Liberty Global further reduces staff.

September 20, 2011

German and Austrian Economy Claim Improvements for Company Loans

Representatives of the German and Austrian Economy fear adverse impacts for company loans from the new Basel III rules.

September 20, 2011

AMSC Cuts Jobs in Austria

The Amercian Superconductor Corporation (AMSC) decided to cut 150 jobs at its subsidiary Windtec. In Austria, 40 positions are concerned.

September 13, 2011

The 2012 Viennese Opera Ball in New York

Dignitaries, Diplomats and Debutantes will open the 57th Viennese Opera Ball in New York on Friday, February 3, 2012.

September 12, 2011

Lenzing Group: Capacity expansion completed at the Heiligenkreuz/Burgenland plant

The Lenzing Group has successfully completed its capacity expansion drive initiated three years ago at the fiber production facility located in Heiligenkreuz (Burgenland, Austria).

September 7, 2011

Austrian Foreign Trade Rising Significantly

January to June 2011: Austrian imports rose by almost 19%, Austrian exports increased by more than 17%

September 6, 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

Rosenbauer Receives Record Order from Brazil

The Austrian manufacturer of fire fighting vehicles will outfit Brazilian airports with 80 Panther ARFF ready for Football World Cup 2014. It is the biggest single order for this vehicle in the company’s history.

August 18, 2011

Do & Co Expands in New York

The Austrian catering company has expansion plans. The production area in New York will be doubled and one company will be acquired by the end of the year.

August 9, 2011

Austrian Companies Not Worried by US Downgrade

Despite falling share prices, most Austrian companies with exposure to the USA remain confident.

August 9, 2011

The Austrian Trade Commission in Los Angeles

The Austrian Trade Commission in Los Angeles is a point of contact for products/specific information of the following sectors: Business Opportunities, Sourcing References, Trade Shows & Events, Doing Business, Investment.

August 4, 2011

The Austrian Trade Commission in Chicago

The Austrian Trade Commission in Chicago is a local link to Austrian companies, products and services and Austria as an investment location in the heart of Europe.

August 4, 2011