Austria's top economic news - March 9

Aluminium producer Austria Metall AG (AMAG) plans to launch an IPO in 2011. The proceeds from the move will be used for the company's expansion. The firm will implement a capital hike, while its core shareholders, Constantia Packaging and One Equity Partners, will reduce their stakes as part of the move.
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Sugar, starch and fruit Agrana is to invest EUR 56m in the construction of a new wheat starch plant in Pischelsdorf. The facility is to start operations in the third quarter of 2013.
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Vienna Insurance Group (VIG) will start offering life insurance products in Montenegro. The company plans investments of EUR 800,000 for the next three years.
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OMV does not plan to end its presence in crisis-hit Libya, CEO Wolfgang Ruttenstorfer said. He, however, pointed out that the company is not financing the Gaddafi family and is only in contact with the National Oil Company. The manager did not say how the currently reduced oil production in the country is affecting the company.
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OMV plans to decide in the first half of the year on the way of financing to be used in order to reduce its liabilities, its CEO said. The company has to cut its debt after the recent big-scale acquisitions in Tunisia and Turkey. OMV considers a combination of alternative hybrid capital, corporate bond or capital increase.
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Online bookmaker Bwin, which recently merged with UK PartyGaming, expects Germany to soon end the state monopoly in gambling, its CEO Norbert Teufelberger told Handelsblatt. The country is currently discussing the future of the gambling sector.
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Real estate company CA Immo AG posted a consolidated profit of EUR 45.4m for 2010, compared to a loss of EUR 76.9m for 2009. The company, which bought Europolis last year, expects a further increase in its earnings in 2011.

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Austrian services companies reported a revenue increase of 3.3% year-on-year, Statistik Austria reported.
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The number of new vehicle registrations in Austria grew 23.5% year-on-year and 7.3% month-on-month to 31,832 in February 2011, Statistik Austria said. New passenger cars registrations increased 21.2% to 26,412.