Austria will receive 350 million EUR owed by bank BAWAG PSK today, in the final repayment of the state aid provided to the lender during the financial crisis. The repayment comes after further capital was provided to BAWAG PSK by shareholders in March. Rumours that owners including investor Cerberus Capital Management are looking to sell […]
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Niemetz, the Austrian manufacturer of the “Schwedenbomben” confectionary, has been saved from insolvency. The creditors have agreed to the restructuring plan and will get a rate of 95 percent. An investor from South America will support Niemetz. The representatives of the creditors have not learned any details about the investor so far. The money (more […]
ÖVP rejects ORF relocation
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The People’s Party (ÖVP) has appealed to ORF bosses to rethink their intention to relocate the broadcaster’s headquarters. ORF general director Alexander Wrabetz is understood to be keen on building a new ORF head office in Vienna-Landstraße. The state-funded broadcasting corporation has its headquarters in the Viennese district of Hietzing at the moment. The building […]
Claro succeeds in Iran
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Leading household detergents producer Claros business activities in Iran are prospering, it has been revealed.Firm chairman and owner Josef Dygruber said today (Thurs) Claro managed to achieve an annual turnover from operations in the Western Asian country of 650,000 Euros in 2010 after having started doing business there only in the previous year.Dygruber, who stressed […]
Oberbank presents bright 2010 figures
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Oberbank managed to improve its volume of credit and value of customer assets last year, according to preliminary figures.The institute said today (Tues) that its volume of credit improved by 5.7 per cent year on year to 10.4 billion Euros. The bank also said that it was in charge of 20 billion Euros of customer […]
Carinthian machine and packaging manufacturer Hirsch Servo AG managed to reduce its losses in the past business year.The company said today (Fri) it suffered net losses of 6.2 million Euros in the 2009/2010 business year, down by 4.5 million Euros year on year.Hirsch Servo, which managed to keep its turnover stable at around 86 million […]
A Tyrolean farmer died instantly when his tractor touched a high-power line today (Weds).Officials in Weer in the provinces Schwaz district said the man, 49, was spraying herbicides on weed in his fields when his tractors trailer got entangled with a 25 kilovolt (KV) line. The farmer died on the spot, they added.Dozens of households […]
KTM recovery continues
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Motorbike producer KTM Power Sports AG has all chances of being back in the black this business year after seeing a rise in earnings in the first quarter.Stefan Pierer, head of the firm with headquarters in the Upper Austrian town of Mattighofen, said today (Fri) its earnings before interest and taxes (Ebit) in the third […]