AUSTRIA: 1999 RESULTS OF VA TECH

Article Abstract:

According to preliminary figures, Austrian Linz-based VA Technologie AG (VA Tech) saw a 18% increase in new orders to EUR 3.57bn in 1999. Turnover grew 6% to EUR 3.4bn. Earnings before interest and taxes rose from EUR 83mn to EUR 130mn. The plant engineering and services division made a profit of Sch 743mn, compared with a loss of Sch 151.4mn a year earlier. Profit from energy and water technology rose from Sch 371.5mn to Sch 770.6mn. Profit from metallurgical technology fell from Sch 1.20bn to Sch 688mn.

Sales, profits & dividends, VA Technologie AG

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AUSTRIA: FIRMS TEAM UP IN INSURANCE

Article Abstract:

IVM Industrieversicherungsmakler GmbH claims to be a leading insurance broker in Austria. The company was formed by VA Tech, VA Stahl and Bohler-Uddeholm, which combined their global insurance activities. The new company represents a premium volume of Sch 500mn.

Joint ventures, Primary Iron & Steel, Iron and Steel Mills and Ferroalloy Manufacturing, Blast Furnace and Basic Steel Products, Insurance carriers, not elsewhere classified, Insurance NEC, Other Direct Insurance (except Life, Health, and Medical) Carriers, Insurance, Voest-Alpine Stahl AG

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Austria: VA Tech to give up units

Article Abstract:

VA Tech is considering the sale of its motor plant in Weiz . The divestment might take place in the form of a management buy-out. Separately, the Austrian engineering group is in talks about the sale of its TMS (Transport- und Montagesysteme) arm. The German engineering company Durr is believed to be one of the three potential buyers of VA Tech TMS .

Asset sales & divestitures, Motor and Generator Manufacturing, Motors and generators, Conveyor and Conveying Equipment Manufacturing, Electrical Motors, Conveyors and conveying equipment, Conveyors & Parts, Conveyors, Electric motors

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