The latest construction industry and company news and analysis from FriedlNews
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Austrian Construction Industry Headlines

Baumax Asset Stripping Proceeds, 200 Jobless

The asset stripping of insolvent DIY chain Baumax continues: The sale of shops to OBI and other market players has cost over 500 employees their jobs. At the end of January some 191 former Baumax workers were registered as unemployed, the job market agency AMS told APA.

February 4, 2016

Strabag Refinanced EUR 2.4 Billion Loans Before Maturity

Listed construction group Strabag has prematurely refinanced two loans, worth a total of EUR 2.4 billion (USD 2.6 billion). In view of the low interest rates and the company’s improved creditworthiness the company managed the redefine the terms and maturity of the syndicated guaranteed credit for over EUR 2 billion and of a syndicated cash loan of over EUR 0.4 billion, the firm announced.

January 28, 2016

Porr Gets New Order From Switzerland - EUR 140 Million

The listed construction group Porr has landed another major order from Switzerland. The contract is worth over EUR 140 million (USD 153 million). Porr Suisse will build at the Zurich railway station two high buildings with 172 apartments, shops, restaurants and office space. The opening of the complex is planned for April 2019.

January 22, 2016

Vienna International Airport Extends Lease Contract with Austrian Airlines until 2035

Listed operator of the Vienna airport Flughafen Wien (Vienna International Airport) has extended the lease contract with Austrian Airlines concerning various buildings at least until 2035, the airport said.

January 18, 2016

Vienna to Invest EUR 1.3 Bln in Municipal Infrastructure by 2020

The City of Vienna will invest some EUR 1.3 billion (USD 1.41 billion) in such areas as drinking water, liquid waste collection and power supply by 2020, the city's representative for such issues Ulli Sima said at the presentation of the "infrastructure offensive”.

January 18, 2016

Strabag Builds Hydroelectric Power Plant in Bosnia-Herzegovina Worth € 57 Million

A consortium consisting of Austrian construction group Strabag and Croatian industrial company Končar has been awarded the contract to build the Vranduk power plant on the river Bosna on behalf of energy supply company JP Elektroprivreda BiH.

January 11, 2016

Wishing you Peace, Joy and Happiness in the New Year

Dear Reader, As the year comes to an end, I wanted to write and thank you for your support. It's the loyalty of readers like you that enables us to provide our service. This year saw us once again reporting on topics related to cross-border activities in business and diplomacy. Our mission remains to inform and to connect Austria's international professionals and expatriates to enable them to be more productive and successful. Whatever 2016 brings, my editorial team and I will continue to bring you the latest in Austrian-international news and insight. I wish you a peaceful and prosperous holiday season and - till next year. Warm regards, Dr. Peter J. Friedl, Editor, FriedlNews

December 23, 2015

FriedlNews wishes Merry Christmas and a Happy New Year from Vienna!

Warmest wishes for the season, and sincere thanks for your loyalty throughout the years! Our service will be closed untill January 11th, 2016. The FriedlNews Team

December 23, 2015

Strabag Builder Takes Over Remaining 42.7 Pct in Zublin

Listed construction group Strabag reached an informal agreement with minority shareholder of its German unit Ed. Zublin, the Lenz family, to take over the outstanding 42.7 percent in the company, Strabag said.

December 7, 2015

Strabag Quadruples its Group Profit in First Three Quarters

Austria’s biggest construction group Strabag substantially increased its profits in the first three quarters of this year. The company made a group profit of EUR 58.3 million, after EUR 14.4 million in the same period of last year. Per share profit increased from EUR0.14 to EUR0.57. Construction output increased by 6 percent to EUR 10.26 billion, as the company announced.

November 30, 2015