Austrian economic news in a flash

(The most important economic news in Austria from 14 September)

Schoeller-Bleckmann Oilfield Equipment (SBO) has taken over 100% in Dubai-based Drilling Systems International Ltd. The purchase price was not disclosed. The acquired company generates around USD 30m in sales per year.

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Auto parts supplier Miba agreed to buy the off-road business of Hoerbiger Antriebstechnik in a move to expand its friction activities. Miba will also take over Hoerbiger Drive Technology India Pvt.
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Fibre producer Lenzing plans to issue an up to EUR 120m bond this autumn. The proceeds will be used for boosting the engagement in India and China and for cutting the firm's debt.
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The provincial government of Carinthia has given a positive environmental impact assessment on the planned gas/heat power plant in Klagenfurt. The EUR 330m plant is to produce 400 MW of electricity and 200 MW of heat. Leading utility Verbund will own 50% in the plant.
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Notebook producer Quanmax has decided to take over the assets of insolvent funworld AG for EUR 2.2m.