Austrian economic news in a flash - 19.10

(The most important economic news in Austria)

update software AG  posted an EBIT loss of EUR 0.235m for the third quarter of 2010, compared to a profit of EUR 0.715m a year earlier. The company's revenue stood at EUR 6.48m.
*
Revamp specialist Erhard Grossnigg will not buy a stake in IT services provider S&T, the company said. Now S&T will continue the bank talks over its refinancing. Grossnigg initially planned to buy 25% minus a share in S&T from insolvent AvW.
*
Fibre producer Lenzing envisages to open its Indian plant, to the south of Mumbai, at the beginning of 2013, CEO Peter Untersperger told Oberösterreichische Nachrichten. Lenzing plans to invest some USD 190m in the site.