AUSTRIA: AURICON TO BE LIQUIDATED

Article Abstract:

Austrian entrepreneur Herbert Liaunig is to liquidate the holding company Auricon Beteiligungs AG. Shareholders are either to get Sch 350mn-450mn in cash or shares in the subsidiaries Jenbacher, Austria Email, Waagner-Biro Binder AG and WB Holding AG. Mr Liaunig is expected to concentrate in Jenbacher, which is in best shape. . The plant engineering group WB Holding has growth potential but will not get into the black until 2000 at the earliest. Waagner-Biro Binder was left with the loss-making operations, and will probably be liquidated. Loss-making Austria Email is to be sold.

Diversified Companies, Asset sales & divestitures, Strategy & planning, Railroad Equipment, Railroad Rolling Stock Manufacturing, Heating Equip ex Electric, Heating Equipment (except Warm Air Furnaces) Manufacturing, Electric Power Equipment, Power, Distribution, and Specialty Transformer Manufacturing, Rubber & Plastic Products, Plastics and Rubber Products Manufacturing, Materials Handling Equip, Material Handling Equipment Manufacturing, Railroad equipment industry, Heating equipment, Electric equipment, Materials handling equipment, Auricon Beteiligungs AG, Jenbacher Werke AG

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AUSTRIA/SWITZERLAND: VA TECH HYDRO CLEARED

Article Abstract:

The Austrian and German cartel authorities have approved the acquisition of Sulzer Hydro of Switzerland by VA Tech of Austria. The new unit that will be called VA Tech Hydro will be the world's second-biggest hydro power technology company. It will comprise the hydro power operations of VA Tech Elin and VA Tech Voest MCE (which in 1998 generated a turnover of Sch 4.4bn) as well as Sulzer Hydro (Sch 3.01bn).

Acquisitions & mergers, Switzerland, Hydroelectric Power, Hydroelectric Power Generation, Motor and Generator Manufacturing, Hydroelectric Generators, Hydroelectric power plants, VA Tech Elin

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ITALY: VOEST WINS STEEL MILL JOB

Article Abstract:

The Taranto steel mill in Italy will be modernised for Sch 540mn by Voest-Alpine Industrieanlagenbau (VAI).

Italy, New orders received

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