AUSTRIA: AUSTRIA RAIL CARGO EYEING EAST EUROPE

Article Abstract:

OBB and Ermewa of Switzerland have set up a 50:50 joint venture to operate east-west transport of chemical goods. Within two years the new company called Chemlog should generate a turnover of Sch 1bn. Ermewa, which is owned 45% by the French national railway company , is one of the biggest wagon hire companies in Europe. It will contribute its wagon parc, while OBB will provide logistics knowhow. In 1999 OBB's cargo division Rail Cargo Austria expects a transport volume of 98mn tonnes, up from 77mn tonnes in 1998. Due to the acquisition of the transport companies Express and Interfracht, turnover should rise from Sch 13bn to Sch 15bn. Excluding the acquisitions, sales will decrease by 2-3% due to the fall of prices. Profits are expected to decline 2.5-3%. In year 2000 prices are to be increased by 3%. Rail Cargo Austria has Sch 2bn-4bn in its coffers for acquisitions. Within 4-5 years the company aims to generate a turnover of more than Sch 20bn.

Austria, Line-Haul Railroads, Railroad Freight Operations, Rail freight, Osterreichische Bundesbahnen, Ermewa

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SLOVAKIA: US STEEL TO INVEST IN VSZ

Article Abstract:

At the first stage, US Steel is to invest US$ 60mn-65mn in its joint venture with the Slovak steel group VSZ. VSZ US Steel was founded already at the beginning of 1998 but has remained out of operation due to financial difficulties. The project is now to be reactivated. The partners are to create 1,300 jobs, and new production facilities are to be built from June 2000. The joint venture is to produce annually 340,000 t of tinplate in addition to high-quality steel products.

Foreign operations, Capital expenditures, Iron and Steel Mills, Slovakia, Tinplate, United States Steel Corp., VSZ Kosice a.s.

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