The latest automobile and automotive industry and company news and analysis from FriedlNews
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Austrian Automotive Industry Headlines

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

Magna Austria's Output Down by 23 Percent

The Canadian car component maker earned more in Q1 despite lower sales. The number of vehicles in Graz sank year to year by 23 percent to about 27,000 units. Production in Graz generated USD 584 million in revenues, 28 percent less than last year.

May 8, 2015

ATB Motor Solutions Turns to EUR 1.5 Mln Net Loss in Q1

Listed motor solutions firm Austria Antriebstechnik (ATB) turned to a EUR 882k (USD 971k) operating loss in Q1 from a profit of EUR 2.7 million a year earlier as the group had to tackle problems in many areas, ATB said in a filing.

April 30, 2015

Pappas Car Retailer Raised Net Revenues to EUR 966 Million

Salzburg-based Pappas car retailer raised net revenues from the three core markets (Austria, Hungary and Germany) to EUR 966 million from EUR 959 million a year earlier, while sales edged up by some 1 percent to 23,564 cars, Pappas said in a press statement on Wednesday.

April 30, 2015

Austrian Automotive Market Lags Behind Other European Markets

The number of new car registrations decreased by 7.5 percent in Austria in Q1 2015. At the same time the number of new car registrations in Europe increased by 8.5 percent Felix Clary, spokesman of the Austrian car importers said on Thursday evening. Clary thinks the reason for this is policy aimed against the automotive industry.

April 17, 2015

Cross Sells Carcarpet Manufacturer Durmont to AGM Automotive

Cross Industrial Investments agreed on a strategic partnership with AGM Automotive LLC in the sector of carcarpet production. AGM acquired a majority stake of Durmont Teppichbodenfabrik GmbH.

April 14, 2015

Pierer Goes Public with Former Cross Motorsports

Industrialist Stefan Pierer, owner of Cross Industries group, which already has majority stakes in the listed companies KTM and Pankl Racing Systems will enter the stock market with yet another company. From this Friday shares in WP group, formerly Cross Motorsports Systems will be traded on the Vienna Bourse.

April 9, 2015