Austrian economic news in a flash - November 15

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Regional utility EVN said it had successfully completed its capital hike. Existing shareholders have subscribed for 58.7% of the total issued shares of above 16m, while institutional investors bought 40.5%. German EnBW, the second biggest single shareholder in EVN, as expected did not take part in the transaction.
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The negotiations between insolvent A-Tec and its creditor banks over the company's refinancing have more or less collapsed, a spokesman for the creditor committee told Austria's APA agency. However, now there will be a "plan b" which involves the sale of A-Tec's most attractive unit, machinery company AE&E. A solution should be found by the end of the week, he added, saying that there are already suitors for the subsidiary. Austrian technology group Andritz is said to be among the interested parties. According to a report of WirtschaftsBlatt, a company from Hong Kong is the most possible buyer for AE&E.
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C-Quadrat Investment AG said its net profit grew to EUR 9.3m for the first three quarters of 2010, from EUR 3m a year earlier. The total income rose to EUR 40.8m from EUR 24.4m. Assets under management soared to EUR 3.04bn from EUR 2.66bn.

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Software company Plaut AG has opened an office in Moscow at the start of November. It would be the fifth office of Plaut in CEE.
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Sugar, starch and fruit group Agrana will invest EUR 11m in the construction of a crystallised sugar silo at its site in Tulln. The facility should start operations in October 2011.
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Tridonic, part of lighting company Zumtobel, launched its first LED assembly line at Fürstenfeld. The annual production capacity will be around 12m LED modules, while the investment stands at about EUR 1.5m.
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Bank Austria's economists confirmed their forecasts for economic growth of 1.9% in 2010 and said they predict a rise of 2% in 2011. The current sentiment of consumers and industrial companies is as good as it was before three years, the specialists said. Consumers are feeling the effect of the lower unemployment rate, while the companies are benefiting from the demand abroad.

*The stock CA Immo International AG traded this Monday for the last time on the Vienna Stock Exchange. The delisting comes after the merger of the company with its parent CA Immobilien Anlagen AG. The latter will continue trading on the market.
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