Austrian Federal Railways (ÖBB) supervisory board chief Horst Pöchhacker revealed today (Weds) the firms freight business department suffered operative losses of 100 million Euros last year.Pöchhacker said in a radio interview: “Turnover dropped by 500 million Euros due to the exceptional crisis last year, but we already managed to save around 400 million Euros.”He claimed […]
Family-owned German clothing chain Peek & Cloppenburg (P&C) said today (Weds) it would continue expanding in Austria.The firm recently opened a 5,000 square metre store at the Tyrol shopping centre in Innsbruck and today opened a 6,700 square metre store at Shopping City Süd (SCS) in Vienna-Vösendorf. P&C is planning to open one at Viennas […]
Customers would be the most affected party if the government decides to set up a new tax for insurance companies, a top branch representative has warned.Günter Geyer, Vienna Insurance Group (VIG) chairman and head of the federal insurance companies association, said today (Weds): “Eighty per cent of the money managed by insurance companies belongs to […]
Josko stays on board as SV Ried sponsor
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Upper Austrian windows and doors producer Josko is to remain the main sponsor of Bundesliga side SV Ried, it was announced today (Fri).The company, based in Koping im Innkreis, has financially supported the football club for eleven seasons.Oberösterreichische Versicherung insurance company meanwhile said it will also stay on board as SV Ried sponsor.The team, currently […]
Plastics manufacturer Greiner Group reported that its turnover had declined by eight per cent year on year to 1.031 billion Euros in 2009 yesterday (Thurs) evening.Board members Axel Greiner and Axel Kühner said the decline had been moderate given the financial crisis and attributed it to the effect of fluctuations in currency-exchange rates.They added that […]
Paper industry workers get a raise
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Austria’s paper industry workers are to get a pay rise.The social partners have agreed a new contract for paper processing industry workers, the umbrella association of paper industry firms said today (Fri).The contract, retroactive to 1 March, will give workers currently on the minimum wage a 1.25 per cent salary increase and others a 1.15 […]
ÖBB’s MAV Cargo changes name
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Austrian Federal Railway (ÖBB) subsidiary MAV Cargo is changing its name to Rail Cargo Hungaria, it was announced yesterday (Thurs).ÖBBs freight division Rail Cargo Austria (RCA) acquired MAV Cargo in 2008.RCA chief Friedrich Macher said: “Rail Cargo Hungaria will play an important role in combined traffic in southeastern European countries and strengthen RCA in the […]
Last Cosmos stores to close
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Bankrupt electronic chain Cosmos will end its sale and close its remaining 17 stores tomorrow (Sat), the company announced yesterday (Thurs).The chain has already closed 10 stores and laid off 324 employees.The closures mean 1,160 employees will lose their jobs. Vienna employees will be able to find places in a regional foundation (RI) at which […]
ÖVP fraction wins WKO election
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The Peoples Partys (ÖVP) VP-Business Association has won this years Federal Economic Chamber (WKO) election for members representatives in specialised sectors.It was announced on Tuesday this week that the ÖVP organisation had won 70.9 per cent of the vote or 0.8 of a percentage point more than five years ago and had again won a […]
Lenzing 2009 earnings crash
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Upper Austrian fibre producer Lenzing AG reported today (Thurs) that its results had been significantly worse in 2009 than in 2008.Lenzing said its earnings before interest and taxes (Ebit) had declined by 23 per cent year on year to 100.7 million Euros and its earnings before interest, taxes, deprecation and amortisation (Ebitda) had fallen by […]