Austrian economic news in a flash

(The most important economic news in Austria from 7 October)

Zumtobel said it will close its Italian LED subsidiary Space Cannon, which was taken over in 2008. The move was attributed to the considerable old liabilities of  Space Cannon, which were because of the lack of compliance of the firm's products with international standards and norms.
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Builder Porr has priced its EUR 125m corporate bond at 101.272%, with a coupon of 5% and maturity in five years.
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Siemens Austria has agreed to divest its asset management subsidiary Innovest Kapitalanlage AG to Australian Macquarie. The move follows Siemens' strategy to focus on energy, medicine and industrial activities. The deal price remains confidential.
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Austria's wholesale prices index stood at 112.8 points in September 2010, up 1.1% month-on-month and 7.1% in annual comparison, Statistik Austria reported.