AUSTRIA: VERBUND, ESTAG FORM ALLIANCE

Article Abstract:

Verbund has agreed with Styrian regional energy group Energie Steiermark (Estag) to combine production, distribution and grids. Between them the companies will have a power generation capacity of 28,000 GWh, which corresponds to half of Austria's power consumption. The partners aim to keep 500,000 of their currently 620,000 clients in Styria despite hte deregulation of the mk. The merger is expected to yield synergies worth Sch 500mn per year. The number of staff is to be reduced by almost 10% or 190 jobs. Estag's Steweag subsidiary is to merge with Verbund's Steg . The 28 power stations of Estag and Steweag will merge with Verbund subsidiaries. The hydro power stations will merge with Austrian Hydro Power (AHP) and the thermal power stations with Austrian Thermal Power (ATP). Estag will hold the majority in the Steweag-Steg GmbH company, which will own about 5% of AHP and up to one-third of ATP. Verbund and Estag will also cooperate on the Croatian and Slovenian markets.

Acquisitions & mergers, Steweag-Steg GmbH

---

AUSTRIA: ENERGIE ALLIANZ TO BUY POWER FROM VERBUND

Article Abstract:

After months of disputes, the Austrian power groups Energie Allianz (EVN, Wiener Stadtwerke, Linz AG, Bewag) and Verbund have reached a first agreement. Over the coming 4 years, Verbund will supply a total of 10,000 GWh of electricity to Energie Allianz. This is equivalent to about 20% of the annual electricity consumption in Austria.

Strategic alliances, Use of materials & supplies, Wiener Stadtwerke, Energie- Versorgung Niederosterreich AG

---

AUSTRIA: SAVINGS TO VERBUND BY REORGANISATION

Article Abstract:

Verbund expects to gain savings of Sch 1bn annually by bringing its power station capacities together. This process is being concluded by the merging of Draukraft with Austrian Hydro Power, a subsidiary of Verbund. By the end of 2001 the number of staff at Verbund power stations should fall to 1,430 from 2,627 in 1997.

Publisher: Unabhaengige Tageszeitungs fuer Oesterreich
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000

Strategy & planning, Labor force information, Brief Article, Verbundgesellschaft

User Contributions:

Comment about this article or add new information about this topic:

Public Comment:  (50-4000 characters)

Name:

E-mail:

Type the code shown:

Show my email publicly:

Subjects list: Austria, Electric utilities