AUSTRIA: VOGEL & NOOT INTO THE BLACK

Article Abstract:

Austrian Wartberg-based Vogel & Noot Warmetechnik, which specialises in heating technology, returned into the black in 1999. Net profit totalled Sch 9mn after losses of Sch 54mn for the previous year. Profits on ordinary activities amounted to Sch 44mn after a loss of Sch 48mn. The company benefited from the positive development of residential construction in Europe. Profits and turnover are expected to increase further in 2000.

Sales, profits & dividends, Steel Heating Boilers, Steel boilers

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AUSTRIA: RESTRUCTURING AT VOGEL & NOOT

Article Abstract:

The board of Vogel & Noot Holding AG, the Austrian producer of heating and packaging technology, has decided on a wide-ranging restructuring programme. It involves the relocation and closing of production facilities and personnel measures. Vogel & Noot Warmetechnik in Wartberg, Austria, will concentrate on core areas. Production capacities from the Vogel & Noot factory in east German Gera are to be relocated to Wartberg, Walcz in Poland and Mosomagyarovar in Hungary. A group of Austrian banks has granted a bridging loan of about Sch 350mn.

Germany, Plant shutdown, Packaging Machinery Manufacturing, Packaging machinery, Packaging Machinery ex Food, Vogel and Noot Holding AG

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Austria: Nettig takes over Vogel & Noot

Article Abstract:

The Austrian Vogel & Noot Holding is to sell its share of Vogel & Noot Warmetechnik, which specialises in the manufacture of radiators and hot water tanks, to the Finnish company Oy Rettig at a price of Sch 436mn. Vogel & Noot Holding is in the process of restructuring following problems in its agricultural machinery arm.

Asset sales & divestitures, Heating, ventilation, and air conditioning industry, HVAC industry

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