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Austrian Automotive Industry Headlines

C.A.T. Vs. CAT (Caterpillar)

Listed Austrian oilfield equipment maker C.A.T. oil AG was renamed officially to Petro Welt Technologies AG. The cause for this step was an ongoing dispute with U.S. construction machine maker Caterpillar Inc (CAT) due to the name rights.

August 24, 2016

Electromobility Offers Austria Huge Potential

Electromobility offers Austria a huge potential, a study commissioned by Klima und Energiefonds (KliEn) indicates. According to the study, by 2030 Austria’s automotive industry could gain EUR 3.1 billion in added value and 33,900 new jobs, thanks to the expansion of emobility.

August 22, 2016

Palfinger Cranes Raises H1 Net Profit 15 Pct Y/Y to EUR 39.7 Mln

Listed cranes producer Palfinger raised H1 net profit by 15.2 percent y/y to EUR 39.7 million (USD 43.7 million), the company said in a report.

July 27, 2016

Rosenbauer Fire Equipment Enters Joint Venture in Italy

Listed fire cars and equipment producer Rosenbauer is setting up a joint venture for the fire-fighting and rescue platform business in cooperation with Italian firm CTE SpA, the company said.

July 20, 2016

AMAG Signs Biggest Delivery Contract with Airbus

The listed aluminium group AMAG in Ranshofen in Upper Austria has signed the biggest supply contract thus far with Airbus. This was announced by the company. AMAG didn't disclose details concerning the volume of deliveries from January 2017. "This contract will substantially expand our business with Airbus and strengtnen our position as a recognized supplier for the aircraft industry” - chairman of the management of AMAG Austria Metall AG Helmut Wieser said.

July 18, 2016

Palfinger Cranes Secures Approval of Oslo Bourse for Norwegian Takeover

Listed crane producer Palfinger secured the approval of the Oslo Stock exchange for the takeover of listed Norwegian firm TTS Group, Palfinger said.

July 18, 2016

Voestalpine Steel Eyes Further Growth in Automotive Segment

Listed steel group Voestalpine is eyeing further, permanent growth in the automotive segment, CEO Wolfgang Eder said in a statement accompanying the launch of the group's new light automotive components facility in Germany's Schwäbisch Gmünd. By 2020, the company wants to raise the share of mobility segment in total revenues to 50 percent from the current 48 percent.

July 8, 2016

Salzgitter and Voestalpine Deny Involvment in Car-Steel Price Collusions

Germany’s second-biggest steel producer Salzgitter is, according to its own sources, not affected by the alleged automotive industry and steel price collusion. The group was informed about the problem by the press. Austria’s own steel group Voestalpine, also a supplier of the German automotive industry, has also repudiated being caught up in the investigation of the German antitrust authority.

July 6, 2016

Vienna Port Becoming Central Distribution Hub for Opel in Austria

The port in Vienna on the Danube and logistics company GEFCO Österreich are now in charge of services for car maker Opel. GEFCO is going to build 6000 sq.m. of additional warehouse floor-space and a business office in the port to that end. Weekly GEFCO is delivering up to 220 vehicles from Saragossa in Spain and other Opel plants, in Germany and Poland.

July 6, 2016

ÖAMTC Rules VW Customers Have No Grounds to Sue

Following an inspection of an Audi A4 and VW Golf after software modifications in the wake of the VW emissions scandal, Austrian automobile club ÖAMTC determined that buyers of the cars had incurred no loss and hence suing the car maker would be pointless. In the USA VW has agreed to pay $14.7 billion to regulators and a half million American diesel car owners to settle its emissions-rigging scandal. This points out that U.S. laws are stricter in this respect than Austrian laws.

June 28, 2016