Monday
Austria's crane maker Palfinger said on Monday it had agreed to take over Russian sector player INMAN. The acquisition is expected to result in a considerable boost in Palfinger's business in Russia.
Steel company Voestalpine confirmed at the start of the week that it considers itself as the whistleblower in the current investigation of the German authorities in a possible price fixing in the railway market. Therefore, the firm expects not to be fined in the proceedings. However, according to media reports, Voestalpine was not the one to inform for the cartel practice.
Steel company Voestalpine confirmed at the start of the week that it considers itself as the whistleblower in the current investigation of the German authorities in a possible price fixing in the railway market. Therefore, the firm expects not to be fined in the proceedings. However, according to media reports, Voestalpine was not the one to inform for the cartel practice.
Tuesday
Vienna Airport said the number of passengers grew 5.7% year-on-year to 1.926m in June. Freight volume however fell 12.8% to 21,315 tonnes. The number of serviced passengers in the first six months of the year rose 8.6% to 9.663m in annual terms.
Machinery group Binder+Co said Tuesday it had bought Italian sector company Comec in a move to expand its business in the Mediterranean region. No financial details were given.
Sanochemia Pharmazeutika revealed that it has entered into a distribution agreement with Italian Halley. The contract concerns Sanochemia's products for CT and MRT, as well as its Secrelux offering.
Oil and gas group OMV said it had closed the takeover of the E&P business of Petronas International in Pakistan. The deal will boost OMV's production in the country by 1,000 boe/d.
Machinery group Binder+Co said Tuesday it had bought Italian sector company Comec in a move to expand its business in the Mediterranean region. No financial details were given.
Sanochemia Pharmazeutika revealed that it has entered into a distribution agreement with Italian Halley. The contract concerns Sanochemia's products for CT and MRT, as well as its Secrelux offering.
Oil and gas group OMV said it had closed the takeover of the E&P business of Petronas International in Pakistan. The deal will boost OMV's production in the country by 1,000 boe/d.
Wednesday
On a slow news day on Wednesday Beiersdorf, the German Nivea maker, said that its Austrian unit will withdraw from the business with decorative cosmetics. The subsidiary will concentrate on skin and bodycare products.
Thursday
Sugar, starch and fruit group Agrana said on Thursday its sales rose 13.4% in annual terms to EUR 612.9m in the first quarter of fiscal 2011/12. The profit soared to EUR 43.1m from EUR 19.9m. The company said it benefited from the good market conditions and the implemented optimisation measures.
Austria's inflation rate remained at a high level in June, standing at 3.3% under the country's definition and at 3.7% under the EU one. It was boosted once again by prices for energy and food.
Builder Strabag said it had raised its stake in German Josef Möbius Bau to 100% from 70%. The move will enable Strabag to boost its hydroengineering activities.
On Thursday one of the most anticipated sales in the Austrian banking sector became a fact. Thus, Russian Sberbank has entered into a term sheet concerning the acquisition of Volksbank International, the eastern European unit of OeVAG. The Romanian activities of VBI will not be part of the deal.
Austria's inflation rate remained at a high level in June, standing at 3.3% under the country's definition and at 3.7% under the EU one. It was boosted once again by prices for energy and food.
Builder Strabag said it had raised its stake in German Josef Möbius Bau to 100% from 70%. The move will enable Strabag to boost its hydroengineering activities.
On Thursday one of the most anticipated sales in the Austrian banking sector became a fact. Thus, Russian Sberbank has entered into a term sheet concerning the acquisition of Volksbank International, the eastern European unit of OeVAG. The Romanian activities of VBI will not be part of the deal.
Friday
Friday was the busiest corporate news day last week. Early in the morning Lenzing Technik, part of fibre producer Lenzing, said it had fully taken over its joint venture LENO Electronic.
The Bank Austria economists continue to be less optimistic for the prospects before the Austrian economy as the sentiment on the most important export markets has worsened. In addition the high inflation rate of above 3% is curbing consumption, the analysts said.
On Friday it also became clear that there are talks with three companies interested in A-Tec, the collapsed business empire of Mirko Kovats.
On Friday evening the results from the latest stress test of Austria's banking sector were published. As expected only OeVAG failed to pass the test, which measures the capital adequacy of the banks. Erste Group, Raiffeisen International, as well as Italy-owned Bank Austria all passed the examination carried out by the country's central bank. Still the results do not take into account the measures taken by OeVAG to improve its capital ratios, such as the announced on Thursday sale of its subsidiary VBI.
The Bank Austria economists continue to be less optimistic for the prospects before the Austrian economy as the sentiment on the most important export markets has worsened. In addition the high inflation rate of above 3% is curbing consumption, the analysts said.
On Friday it also became clear that there are talks with three companies interested in A-Tec, the collapsed business empire of Mirko Kovats.
On Friday evening the results from the latest stress test of Austria's banking sector were published. As expected only OeVAG failed to pass the test, which measures the capital adequacy of the banks. Erste Group, Raiffeisen International, as well as Italy-owned Bank Austria all passed the examination carried out by the country's central bank. Still the results do not take into account the measures taken by OeVAG to improve its capital ratios, such as the announced on Thursday sale of its subsidiary VBI.
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