Austria's top economic news - February 16

IT services provider Brain Force raised its adjusted EBIT to EUR 0.21m in the first quarter of FY 2010/11 from EUR 0.20m a year earlier. Sales decreased 19% to EUR 17.05m due to consolidation effects.
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Builder Porr is said to have set up a joint venture with insolvent Slovenian SCT. According to media reports, the new company will try to take part in tenders for reconstruction of the country's railway network.

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AE&E, once the most promising division of insolvent A-Tec, may be able to return only 5% of the creditors demands, Hans-Georg Kantner, spokesman for the creditors, said. The rate even does not include around EUR 500m, which is still to be declared as liabilities.
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The buy of Austrian Airlines by Lufthansa may cost the German company EUR 15m more than planned if the court decides that the compensation of EUR 0.50 paid in the firm's squeeze-out is too low. The compensation has been challenged by 35 shareholders, with the first hearing on the case being last Tuesday.
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Insolvent AvW has divested its 5.7% stake in German euromicron for EUR 6.28m. AvW's former CEO has recently been sentenced to eight years imprisonment.