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

Austrian House Prices Rose 6.4 Percent in Q2

Austrian house prices in Q2 2015 have hiked by 6.4 percent, which was the second-highest growth rate in the EU. Only in Cyprus the growth rate was bigger, at 7.4 percent, Eurostat reported. In the EU the growth was 1.3 percent, and in the eurozone it reached 1.2 percent.


Austrian Industry: Sentiment Worse Than Ever

"The worries over the industry haven’t been that strong since I have been active. Also, the sentiment among companies is worse than everything I have experienced over the past two decades” Christoph Neumayer, general secretary of Industriellenvereinigung (IV) told journalists in Vienna.

October 1, 2015

Obi DIY Retailer Gets Cartel Watchdog's Consent for Baumax Stores Takeover

German DIY retailer Obi secured the unconditional approval for the takeover of 68 stores of ailing competitor Baumax, Austrian competition authority BWB said on its website.

September 30, 2015

Hagebau Takes Over Six Baumax Markets

The asset stripping for DIY chain Baumax continues. After German chain Obi took over 49 of the 65 branch stores in Austria, another six in Eisenstadt, Gralla, Graz, Judenburg, Mistelbach und St. Pölten have been taken over by Hagebau companies.

September 25, 2015

Strabag Set to Enter Romanian Real Estate Market

Listed construction giant Strabag is entering the Romanian real estate market and to this aim took over Bucharest-based development team of Raiffeisen Evolution, the company said.

September 23, 2015

Baumax Sells another 6 Stores - 284 Jobs Secured

DIY chain Baumax will sell another six stores in three provinces. This will secure 284 jobs, Lower-Austrian chamber of labour announced. The chamber didn’t reveal the identity of the buyers. Reportedly, the German DIY chain Hagebau is the investor.

September 22, 2015

BauMax DIY Chain Seeking Amicable Solution with Employees

Ailing DIY retailer BauMax is able to conduct layoffs as of yesterday, in line with the notification filed to the labour market agency AMS and approved by AMS last week, but the group will seek amicable agreements, a spokes-person said.

September 11, 2015

BauMax Creditors Write Down about EUR 400 Million

The creditors of the troubled DIY chain BauMax will write down about EUR 400 million (USD 446.5 million) and thus will abate about 40 percent of debts. This way banks will pave the way for the division of the DIY chain and the takeover of more than 2/3 of shops by the German chain Obi.

September 7, 2015 · Updated: September 8, 2015; 19:00

Strabag CEO Expects Wave of Insolvencies in Construction Sector

The head of Austria’s leading builder Strabag, Thomas Birtel, thinks his company is on the right track, but the construction industry in Austria is facing a wave of bankruptcies, since the market is marred by excess capacities and price pressure. He found the situation odd, since there was a lack of demand and yet no insolvencies had been made public so far, he told daily WirtschaftsBlatt.

September 7, 2015

Baumax Sale Continues, Trade Unions Negotiate

The trade union of privately employed (GPA/djp) wants to push through a social plan and employment foundation to finance further training of employees before the pending sale of the DIY chain Baumax. The trade union representatives are in the middle of negotiations it was stated.

September 2, 2015