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Austrian Commodities Markets Headlines

Municipal Utilities in Vienna to Downsize

The municipal utilities company in Vienna (Wiener Stadtwerke) is cutting costs. The company intends to downsize, and by 2018 it plans to reduce its staff number (of currently 5500) by 900 in the energy sector. 800 of the affected employees will go into retirement.

June 13, 2016

Voestalpine Secures Large Deal in Texas

Listed steel group voestalpine has secured another large deal in Texas, for U.S. steel manufacturer Big River Steel. The Austrian company is going to supply up to 240,000 tonnes of hot briquetted iron (HBI) per year from 2017 to the U.S. enterprise, it was announced.

June 13, 2016

Austrian Wood Industry Back on Track

Positive trend returned to the Austrian wood industry after three years of contraction. In 2015 the branch recorded 4.8 percent growth and generated sales of EUR 7.49 billion. The branch association expects a slight gain this year.

June 3, 2016

Voestalpine Invested More Than Ever in 2015/16

The Linz-based steel group Voestalpine invested more last financial year than ever before. "With over EUR 1.3 billion this was the year of highest investments in our history and we had no problems with financing this enormous contribution” the head of the group Wolfgang Eder stressed at the annual earnings conference.

June 3, 2016

ÖBIB and IPIC Extend, Update OMV Syndicate Agreement

ÖBIB and IPIC, the key shareholders of oil and gas group OMV, updated and extended their syndicate agreement. Head of state holding ÖBIB, Martha Oberndorfer and chairman of IPIC, the state fund of the United Arab Emirates, Suhail Mohamed Al Mazrouei, who is also Energy Minister of the UAE, signed the modified agreement.

June 2, 2016

Voestalpine Invests EUR 300 Million in Linz this Year

Upper Austrian steel group Voestalpine is going to invest in 2016 some EUR 300 million (USD 334.4 million) in the Linz-based facility, board member Herbert Eibensteiner estimated, a press report indicates.

May 25, 2016

Oil and Gas Production Down in Austria in 2015

The output of crude oil and gas in Austria dropped last year, and more so for EVN subsidiary Rohöl-Aufsuchungs AG (RAG). The total oil production fell by 4.1 percent to 905,932 tonnes, whereas the output of natural gas decreased by 4.3 percent to 1.182 billion cubic metres, the Federal Geological Office (Geologische Bundesanstalt) disclosed.

May 24, 2016

RHI Refractories Q1 Net Profit Down ca. 30 Pct Y/Y to EUR 14.8 Mln

Listed refractories company RHI suffered a nearly 30 percent y/y decline in Q1 net earnings to EUR 14.8 million (USD 16.8 million), in line with market expectations, the company said in a report. The group blamed the weak development in the steel business for the drop. Also the industries division saw a decline in revenues and operating result.

May 12, 2016

22k Households Change Energy Provider in 2016 Campaign of Consumer Association

22k Austrian households switched to another electricity and/or natural gas provider in this year's campaign of consumer association VKI, a clear increase on some 12.5k in 2015.

May 3, 2016

OeNB Doubles Profit Thanks to Münze Österreich

The Austrian National Bank (OeNB) more than doubled its profit from EUR 341 million to EUR 753 million in 2015 thanks to income from stake in Münze Österreich. The federal government will take EUR 508 million from the profit.

April 29, 2016