AUSTRIA: SIEMENS EYEING ELIN TRACTION

Article Abstract:

Hans Schabert, member of the board of Siemens Verkehrstechnik , says that the German company is interested in taking over Elin Traction, a subsidiary of VA Tech. Schabert said that the Austrian plants in Vienna and Graz will play a more important role for Siemens Transportation Systems in future. The mechanical manufacturing side will be complemented with electrotechnical capabilities, and marketing is to be strengthened. VA Tech is looking for another partner for Elin Traction.

Siemens Transportation Systems Inc.

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AUSTRIA: NEW PARTNER FOR ELIN EBG TRACTION

Article Abstract:

VA Tech, which is taking Bombardier's 26% stake in Elin EBG Traction, is to look for another partner for transportation technology in the medium term. The Canadian group has to give up the stake in order to get the European Union's approval for the acquisition of Adtranz. VA Tech announced that it will continue to cooperate with Bombardier in the fields of technology and marketing. Elin EBG Traction employs about 130 staff and generates a turnover of EUR 39mn.

Locomotives, Bombardier Inc., Elin EBG Traction

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AUSTRIA: SIEMENS TAKES OVER STATE STAKES

Article Abstract:

Siemens of Germany is making use of a put-call option agreed in 1990 to take over from Austrian state holding company OIAG the latter's 26% stakes in Siemens AG Osterreich and Siemens SGP Verkehrstechnik. Siemens now becomes the sole owner of the transportation technology company. In 1990 OIAG received Sch 2.2bn for the stakes.

ELECTRONIC & OTHER ELECTRIC EQUIPMENT, Electrical & Electronic Equip, Electrical Equipment, Appliance, and Component Manufacturing, Other Electrical Equipment and Component Manufacturing, Electronics, Electronic Components and Accessories

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