AUSTRIA: PORR TO RAISE STAKE IN TEERAG-ASDAG

Article Abstract:

Austria's second-biggest construction company Porr (which is controlled by Bank Austria) is to raise its stake in Vienna-based Teerag-Asdag, the country's fifth-biggest construction company, from 8.2% to about 40%. Wiener Stadtwerke will reduce its stake to no less than 40% . Porr's road construction subsidiary Allbau is to merge with Teerag-Asdag. A merger of Porr and Teerag-Asdag, which are already cooperating within a tunnel construction company, would create a company with an annual turnover of about Sch 22bn. It is expected that another Bank Austria construction subsidiary, Wibeba, would be integrated with Porr/Teerag-Asdag.

Electric Utilities, Electric Power Generation, Transmission and Distribution, Mining & Extractive Industries, Mining, Wiener Stadtwerke, TEERAG-ASDAG AG

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AUSTRIA: FRANTSCHACH TO SELL EUROPAPIER?

Article Abstract:

According to media and insider reports, the leading Austrian paper group Frantschach intends to sell its paper wholesale operation Europapier. Allegedly talks have been held with European paper groups. Frantschach's Director General, Veit Sorger, says that Frantschach is not forced to sell Europapier, but that would be one option to secure the future.

Wholesale Trade

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AUSTRIA: ACQUISITION BY FRANTSCHACH PACKAGING

Article Abstract:

In Austria, Frantschach Packaging AG has taken over 90% of the stock of Anger & Co GmbH.

Plastic Film, Woodpulp & Related Products, Unsupported Plastics Film, Sheet, and Bag Manufacturing, Pulp Mills, Plastic films, Wood pulp industry, Anger and Company GmbH

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