Austrian economic news in a flash - 27.10

Top Story
The revamp of collapsed A-Tec will take above EUR 100m, business daily WirtschaftsBlatt reported. The banks, with which A-Tec wants to secure its financing, are said to be demanding considerable guarantees, including company's assets. Furthermore, A-Tec's CEO Mirko Kovats is reportedly ready to provide a substantial part of the necessary revamp money. The Wednesday meeting with the bank partners showed positive results, participants told APA news agency later in the day.
*
Top Story

Utility EVN will start this Friday its planned capital hike, with a subscription period until November 12. The company is offering above 16m new shares. EVN wants to raise about EUR 200m to be used for investments in renewables and strengthening of the financial figures. This is the second attempt of EVN to launch a capital increase this month, after the previous one failed following the decision of German partner EnBW to keep its EVN stake rather than to divest it.
*
Business consultancy Plaut said it generated sales of EUR 6.4m for Q3 2010, unchanged from last year. The EBIT, before restructuring costs, stood at EUR 0.1m. The company expects an increase in the results for the last three months of the year.

*
The European Commission plans to start legal action against Austria over its bilateral agreement with Russia. The agreement gives country's flag carrier AUA the right to fly to Russia. However, according to the EC legislation, all treaties between an EU country and a third party have to imply to the entire aviation sector and not only to a single company.
*
The number of overnight stays in Austria rose 1.1% to 56.18m in the 2010 summer season between May and September. The number of tourists increased 3.5% to a record-high of 15.71m, Statistik Austria reported.