Austrian economic news in a flash

(The most important economic news in Austria from 20 September)  


Strabag Property and Facility Services (Strabag PFS), part of construction giant Strabag, has taken over 100% in Czech real estate services company ECM Facility. No financial details were revealed. ECM had EUR 16m in sales in 2009.
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The Vienna Stock Exchange has cancelled the trade in shares of Christ Water Technology after the latter was fully taken over by Eimco Water Technologies in the frame of a squeeze-out of the minority shareholders.
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OMV was the company with the highest payment to its executive board in 2009. As a whole, the oil and gas group paid EUR 10.2m to its executives, up 23.4% in annual terms. The average board payment among Austrian listed companies stood at EUR 2.9m, down 4.8%. OMV is followed by builder Strabag and machinery group Andritz in the ranking compiled by local shareholder protection group IVA.
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Klagenfurt judges refused to release from custody with an ankle shackle Wolfgang Auer-Welsbach, the CEO of collapsed financial group AvW. He is accused of fraud and tax invasion. Auer-Welsbach's lawyers will appeal the judge decision.