The latest industrial goods industry and company news and analysis from FriedlNews
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Austrian Industrial Goods Headlines

Voestalpine Boosts 3-Year Savings Programme to EUR 1 Billion

Weak economic development and the collapsing commodity prices affected also Voestalpine. The group is going to ramp up its cost-cutting program: "In the next 12 months another EUR 100 million will be saved” the head of the company Wolfgang Eder announced. The savings target by the end of financial year 2016.17 (end of March) set in March 2014 has thus been raised to EUR 1 billion.

February 10, 2016

Voestalpine Seen Netting EUR 79.7 Mln in fQ3

Listed steel group voestalpine will likely post EUR 79.7 million (USD 89.2 million) in Q3 FY 2015/16 net profit, down by a clear 33 percent y/y, shows the consensus of analysts ahead of the publication of the financial statement slated for Wednesday.

February 9, 2016

Styrian Siemens Arm to Work on Irish Project

The technology group Siemens has secured two deals for onshore wind power plants in Ireland. The transformers for the wind park Sliabh Bawn will be developed and build by the Styrian Siemens factory in Weiz. A total of 20 transformers of 3.4 MVA will be delivered to Ireland in 2016. The beginning of construction is scheduled for the beginning of 2017.

February 5, 2016

Bachmann Electronic Raises Sales to EUR 68 Million

The internationally active Vorarlberg-based hightech company Bachmann electronic raised its sales to EUR 68 million last year. This is 13 percent more than in 2014. The company assumes that also in 2016 it will achieve higher sales and profits.

January 25, 2016

Austria's Illegal Arms Deal with Saudi Arabia

Austria approved the export of 9,000 grenades to Saudi Arabia in 2010, which politicians of the opposition suspects to have been in breach of the law, since it is prohibited in Austria to export weapons to countries breaking human rights.

January 14, 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

Voestalpine Cuts Back Revenue Target for 2020 to EUR 15 Billion

Listed Austrian steel group Voestalpine has revised its strategic revenue target for 2020 from EUR 20 billion (USD 22 billion) to EUR 15 billion. This is due to the continuously critical global economic framework conditions. The company explained in a statement, that the sales proceeds amounted recently to EUR 11.2 billion. The profitability of the firm has not been affected by the market conditions much.

December 17, 2015

Constantia Flexibles Completes Takeover of Afripack

Austrian packaging company Constantia Flexibles, majority-owned by the French investment group Wendel, has finalized the takeover of South-African Afripack with headquarters in Durban. The acquisition has been approved by antitrust authorities, as the company announced.

December 9, 2015

Arms Producer from Carinthia Goes Bankrupt

Carinthian company FMF Tactical GmbH filed for insolvency at the land court Klagenfurt. According to credit protection associations the company, which wanted to produce long guns in Feistritz in Rosenthal, has over EUR 5.3 million in assets, mainly machines. At the same time the company's liabilities amount to EUR 10.6 million (USD 11.6 million).

December 9, 2015