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Austrian Automotive Industry Headlines

Jaguar Land Rover Signs Deal to Manufacture Cars in Austria

Tata Motors-owned luxury carmaker Jaguar Land Rover (JLR) said it has signed a contract manufacturing agreement with Austrian automotive firm Magna Steyr in another step to enhance its worldwide production line and build global footprint.

July 29, 2015

Doppelmayr to Build Funicular Route in Bogota

Vorarlberg-based cable-railway maker Doppelmayr has secured a deal for the construction of a EUR 9.4 million funicular in Colombian capital Bogota. The contract was signed last week, Doppelmayr disclosed. The funicular will be part of the city’s public transport system.

July 20, 2015

KTM Motorcycle Manufacturer Raises Operating Profit and Revenues in H1

Listed motorcycle manufacturer KTM nearly doubled its operating profit in H1 2015 to EUR 50.3 million (+49.7 percent y/y) on revenues surging 25.5 percent to EUR 515.1 million (USD 561.8 million), the company said in a concise statement.

July 17, 2015

Used Car Registrations Surge by 11.8 Pct Y/Y in June, Slip in H1

Austrian used car registrations surged by 11.8 percent y/y in June to 95,542, stats office Statistik Austria said. Passenger car registrations accounted for 73,883 of the total, up 12.3 percent y/y.

July 16, 2015

Pappas Car Distributor Becomes Maserati Partner

Pappas group has become the new distribution partner of luxury cars maker Maserati in Austria, Pappas Holding said in a statement.

July 16, 2015

Pierer Industrie AG to Issue EUR 27.7 Million Bond

Pierer Industrie AG, which is controlled by Pierer Konzerngesellschaft mbH of the industrialist Stefan Pierer and which is the main shareholder of the listed Cross Industries AG, will tap the bond market.

July 3, 2015

Siegfried Wolf Joins Miba Supervisory Board

Former head of Magna Siegfried Wolf is joining the supervisory board of listed automotive supplier Miba. Wolf was appointed for a four-year term in office.

June 26, 2015

Automotive Manufacturer MAN to Downsize Utility Vehicle Division

The German utility vehicle producer MAN will cut about 1,800 jobs in the area of assembly of utility vehicles, according to insiders. In the utility vehicle segment some 1,400 jobs will be cut in management and some 400 jobs will be eliminated in production.

June 24, 2015

BF Holding Now Called Cross Industries - Merger Finalized

Cross Industries of the industrialist Stefan Pierer has been merged with BF Holding, formerly Brain Force, just as planned. The change of name was carried out by means of registration in the company register.

June 2, 2015

FACC Airplane Components Turns to 2014/15 Loss

Listed Upper Austrian airplane component producer FACC turned to an operating loss of EUR 4.5 million (USD 5.0 million) in FY 2014/15, worse than EUR 41.9 million operating profit a year earlier, while net result moved to a negative EUR 9.6 million from a positive EUR 28.9 million a year earlier, the company said in a report.

May 21, 2015