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Austrian Technology Industry Headlines

Novomatic Takeover of Australian Rival Delayed

The planned investment of the Lower-Austrian gambling group Novomatic in the Australian rival Ainsworth Game Technology has been delayed. Ainsworth will postpone general assembly scheduled for June 3 by up to 30 days. It is at the meeting that shareholders are supposed to approve the deal.

Yesterday

FACC Reeling in Shock After Firing of CEO

Austrian aviation group FACC is going through a lot of change at the moment. After discovering in January, that due to embezzlement the company account had been drained of millions of euros, the CFO was sacked in February. Now the supervisory board, manned mostly by Chinese who control the company, decided to give the sack to the founder and CEO Walter Stephan. This came as a huge shock to the staff.

Yesterday

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.

Yesterday

Franz Wolfahrt Stands in Civil-Law Trial Concerning Disputed Payments

In the civil-law trial concerning disputed payments to lobbyists Walter Meischberger and Peter Hochegger, former CEO of gambling company Novomatic, Franz Wolfahrt, once again confirmed that such payments were made in connection with the targeted loosening of gambling law in 2006, although he stressed that adequate services were provided in return.

May 24, 2016

Austro Control Boosts Sales and Profit

Austrian air traffic control company Austro Control raised its sales last year by 3.2 percent to EUR 265.5 million. The company also made a EUR 12.9 million profit after EUR 1.8 million (USD 2.05 million) in 2014.

May 13, 2016

Novomatic Awaits Approval of Australian Rival for Planned Takeover

Gambling group Novomatic is yet awaiting the approval of Australian rival Ainsworth GM for the planned takeover of 52.5 percent stake. The meeting is scheduled for June 3. At least 50 percent of minority shareholders of Ainsworth need to agree to the proposed deal assuming the price AUD 2.75 per share and a total value of AUD 500 million (EUR 323 million). The management previously expressed its support for the takeover, but analysts and minority shareholders were critical.

May 13, 2016

AT&S Electronics Reports Mixed Results Because of New Plant in Chongqing

The listed Styrian circuit board producer AT&S has reported mixed results for the financial year 2015/16 due to the launch of its new plant in Chongqing. Sales increased by 14.4 percent to EUR 762.9 million. At the same time EBIT slumped 14.6 percent to EUR 77 million - AT&S announced. Group result decreased from EUR 69.3 million to EUR 56 million (USD 63.8 million).

May 10, 2016

Austrian Online Retail Causes Surge in Number of Small Carriers

Online purchases have caused a surge in the number of small vans in Austria. The trend is also supported by the fact that the vans are exempt from road toll. The transport output of vans of less than 3.5 tonnes totaled nearly 2.3 million tonnes kilometres, which means that this type of transport has doubled its output since 1990, Markus Gansterer, an expert of automobile club VCÖ explains.

May 6, 2016

Schelhammer Not to Sell Casinos Stake After All

Former church bank Schelhammer & Schattera no longer wants to sell of its stake in Casinos Austria, it follows from a statement of managing board member Gerd Stöcklmair made to daily Krone. He noted the bank was observing the market, but had not plans for change in 2016. The bank holds directly and indirectly 9.86 percent of Casinos Austria.

May 4, 2016

EVVA and Umdasch to Invest EUR 2.5 Million in Whatchado

Austrian startup Whatchado which helps post job applications using short video, has received funding to the tune of EUR 2.5 million from the companies Evva and Umdasch. The vocational orientation platform has already helped connect prospective employees with 200 employers via 5,000 individual interviews.

May 3, 2016