A provincial High Court has increased a farmers sentence for keeping a worker under inhumane conditions for 30 years.The Styrian High Court in Graz ruled yesterday (Thurs) that Peter P., 63, must serve six months behind bars. The elderly farmer was given a suspended 18-month prison term by judges in Leoben last year. The new […]
Insurance company UNIQA Versicherungen AG (UNIQA) said its 2010 performance could have been better than expected.The firm said today (Fri) that some weeks ago it expected profits of around 120 to 135 million Euros, while analysts predicted profits of 142 million Euros. Now the Vienna-based insurer has explained that it may have achieved a pre-tax […]
Upper Austrian wood company Teak Holz International AG (THI AG) is back in the black, it has emerged.The Linz-based firm, which suffered a loss of 11.8 million Euros in the 2008/2009 business year, said today (Thurs) its achieved earnings before interest and taxes (Ebit) of 3.5 million Euros in the 2009/2010 business year which ended […]
Strabag SE chief Hans Peter Haselsteiner has rubbished speculations construction projects in 2014 Olympics host city Sochi are running late.The businessmans company is just one of a string of Austrian firms which were assigned to carry out building and infrastructure projects in the Russian Black Sea resort.Haselsteiner told the Kurier newspaper today (Thurs): “We are […]
A factory in Vienna has produced the 20-millionth gearbox for General Motors (GM), it emerged today (Thurs).GM Powertrain Austria boss Rudolf Hamp said GM decided to pour an additional 50 million Euros in the plant in Donaustadt district to improve the production process after the 20-millionth gearbox left the conveyor belt earlier this week.Hamp said […]
Viennese technology company Kapsch TrafficCom AG (Kapsch) has bagged a major assignment in Poland.The road toll systems specialist said today (Thurs) it will set up a digital radio system on 84 kilometres of railway network in the country. The company, which is headed by Georg Kapsch, added the contract was worth 11 million Euros.Kapsch official […]
Austrian lingerie manufacturer Palmers has warned it will try to withdraw the takeover of rival Lejaby amid suspicions its previous owner gave wrong information about its finances.Palmers boss Thomas Weber told business magazine Trend his firm was considering approaching US American Warnaco Group to discuss chances for a retroactive reduction of the takeover price of […]
Bosses of struggling Federal Railways (ÖBB) have appointed two new heads for loss-making affiliated firm Rail Cargo Austria (RCA).ÖBB CEO Christian Kern decided in November to remove RCA co-chiefs Friedrich Macher and Günther Riessland from executive power as the companys debts stopped soaring.Kern explained at that time that Macher and Riessland will keep working for […]
Niki Lauda has been accused of having prejudices towards homosexuals.The Formula One (F1) legend and aviation businessman caused a stir some days ago by urging Alexander Wrabetz, head of state-owned TV channel ORF, to ban gay entertainer Alfons Haider from competing in “Dancing Stars” with a male dancing partner.Lauda said the teaming up of Haider […]
A leading Austrian building firms German branch has won a 82-million-Euro assignment in the United Arab Emirates (UAE).Alpine Bau GmbH (Alpine) said today (Mon) that its German representation Alpine Bau Deutschland AG will build office buildings, storage sites and production facilities in Abu Dhabi for Borouge, which is a joint venture between the Abu Dhabi […]