неделя, 10 юли 2011 г.

Austria's Top Economic News - Week 4-10 July

Monday

Refractory material maker RHI plans to open a new plant in USA in the next six to 12 months, CEO Henning Jensen told business paper WirtschaftsBlatt. The company is also before starting the construction of a new factory in Brazil, the manager added.
Brick maker Wienerberger announced on Monday it has successfully closed the issue of its bond worth EUR 100m. The bond will have a maturity of seven years and bear a coupon of 5.25%.
Office furniture maker Bene revealed more figures on its first-quarter performance on Monday and said that its net loss narrowed by 42% to EUR 2.28m in the period.
Vienna Insurance Group is still interested in the takeover of Polish Warta-Versicherung, subsidiary of Belgian KBC, VIG's CEO Günter Geyer said Monday. 

Tuesday

On Tuesday there were media reports that the long planned sale of the Volksbanken International, the eastern European unit of bank OeVAG, will be carried out by the end of July. Russian Sberbank is said to be ready to pay above EUR 700m for majority in VBI.
Austria's regional utilities EVN and Wien Energie said Tuesday they had closed the buy of a stake of 26% in Verbund Innkraftwerke, a German power plant company operating along the Inn river and owned by Verbund. 

Wednesday

Austrian Airlines said Wednesday it plans to widen the number of flights within Austria. Thus, as of the end of October the air carrier will fly more often from Linz and Klagenfurt to Vienna.
On Wednesday it also became clear that Polish road construction authority GDDKiA will demand a penalty of around EUR 500,00 from Kapsch TrafficCom for the delay in the launch of a electronic toll system in the country.
Wolfgang Eder, CEO of steel maker Voestalpine, said that he expects the company to book sales of between EUR 11bn and EUR 12bn in the current fiscal year. A considerable improvement in earnings is also seen.

Thursday

Austrian champaign maker Schlumberger raised its EBIT by 50% to EUR 4.5m in fiscal 2010/11. Sales went up 2.4% to EUR 218.9m. The company expects the economic conditions in the current fiscal year to be challenging.
According to a media report of Russian daily Kommersant, Hungarian OTP is also interested in the takeover of VBI, the eastern European unit of OeVAG. So far it has been thought that only Russia's Sberbank is expressing interest in the transaction.
Helmut Elsner, the former head of bank Bawag who was sentenced to ten years in prison due to a fraud related to a bankrupt commodities brokerage, was released from prison because of his unstable health. The 76-year old Elsner served 4 and a half years after found guilty in one of the biggest financial trials in Austria's recent history.

Friday

The Romanian government plans to sell further 9.8% in OMV Petrom, which is majority-controlled by Austrian oil and gas group OMV. The latter reportedly doesn't plan to raise its shareholding of 51%.

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