Outgoing Magna co-chief Siegfried Wolf has rubbished claims that his departure will have a negative effect on the car parts makers factory in Austria.Russian billionaire Oleg Deripaska said earlier this month Wolf was set to head the automotive division of his company Russian Machines.The announcement came just weeks after Frank Stronach accepted a multi-million payout […]
Tag: company
Christoph Franz has been appointed new Lufthansa boss.The aviation firm announced yesterday (Tues) that the 50-year-old German businessman will succeed Wolfgang Mayrhuber as of the beginning of next year.Mayrhuber, who was born in the Upper Austrian town of Waizenkirchen, started working for Lufthansa in 1970. He has headed the firm that has its headquarters in […]
Federal Railways (ÖBB) boss Christian Kern has claimed now was the “last chance” to get the debt-stricken firm back on track.Kern said today (Thurs) he expected developments similar to the processes in the aviation industry to occur in the railway business. The ÖBB CEO who took up office in June also referred to […]
Sanader sets up firm in Innsbruck
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Former Croatian Democratic Union (HDZ) Prime Minister Ivo Sanader has founded a company in Austria, it has emerged.The controversial ex-politician who surprisingly stepped down as prime minister last year holds a 95 per cent stake in Prima Consulting GmbH, according to Tyrolean newspapers.Reports have it that Sanader teamed up with Austrian businessman Wolfgang […]
Spar Austria reports turnover increase
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Spar Austrias turnover edged up year on year in the first six months of 2010, it has been announced.The company announced today (Mon) net turnover rose from 2.35 to 2.44 billion Euros, adding that earnings before interest and taxes (Ebit) improved from 36 to 39 million Euros.Spar Austria also said earnings before interest, taxes, depreciation […]
Fire-fighting equipment producer Rosenbauer International AG had a good first half of the year as business figures presented today (Fri) show.The company headquartered in Leonding, Upper Austria, managed to increase turnover by 14 per cent to 274.5 million Euros year on year, while earnings before interest and taxes (Ebit) rose by 33 per cent to […]
Organisers of the Frequency Festival are in hot water after a firm assigned to clean up after last weekends mega event has been accused of illegally employing most of its staff.A special unit formed by finance ministry officials and police found out that 48 of the 53 workers hired by the company to clean up […]
Anger as Post AG reveals closure details
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Workers union officials are expected to turn their guns on Post AG bosses as details of the firms controversial austerity plans have emerged.The company in which the Republic of Austria has a 52.8 per cent stake through state holding company ÖIAG announced today (Weds) where it planned to shut down post offices.Post AG […]
OMV earnings bubble over
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OMV managed to raise earnings and turnover in the first half of this year.The Vienna-headquartered oil and gas firm said today (Weds) turnover soared by 31 per cent to 11,015 billion Euros compared to the first six months of 2009. Analysts expected the companys turnover to increase by just 25 per cent year on year.The […]
XXXLutz in 200mn Lesnina deal
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Austrian furniture megastore chain XXXLutz has coughed up around 200 million Euros to snatch up a Slovenian competitor, it has been claimed.Business dailies report today (Thurs) that XXXLutz which has around 17,000 employees transferred between 150 and 200 million Euros to Lesnina owners to take over the company in full.Bosses at the company […]