Austria's top economic news - February 11

Software developer Fabasoft AG said it slipped to an EBIT-loss of EUR 0.3m for the first nine months of fiscal 2010/11, compared to a profit of EUR 0.9m a year earlier. Sales remained stable at EUR 15.7m.
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ATB Austria Antriebstechnik AG rejected reports that it plans to considerably reduce its production of industrial engines and to scale down its plant in Spielberg, Upper Austria. The company does not plan to lay off people in Spielberg, CEO Christian Schmidt told Austria's APA news agency. Format wrote earlier that ATB envisaged to concentrate on small electrical engines for households.
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The shareholders of insolvent A-Tec voted in favour of the company's restructuring plan, which was approved by its creditors in December. CEO Mirko Kovats, despite drawing considerable criticism from the owners, will remain as head of the company, while Franz Struzl and Alfred Finz will join the firm's supervisory board.
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Telekom Austria said it plans to merge its two financial services subsidiaries A1 Bank and paybox austria. The new company, paybox Bank AG, will start operating in April.

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Telekom Austria is said to be the best bidder for the takeover of Croatian cable TV provider B.net Hrvatska, a subsidiary of Bewag, Bloomberg reported. The purchase price is estimated at around EUR 100m.