AUSTRIA: GERMAN ZF BUYS STEYR ANTRIEBSTECHNIK
Article Abstract:
Magna, the automotive parts group of the Canadian-Austrian industrialist Frank Stronach, has signed a letter of intent to sell Steyr Antriebstechnik GesmbH (SAT) to Zahnradfabrik Passau, a subsidiary of ZF Friedrichshafen AG. The Steyr-based company produces transmissions and axles for tractors and generates an annual turnover of about Sch 1bn with 720 staff. It is about one-tenth of the size of the ZF group, a producer of transmissions, steerings, axles and other automotive components. The final deal is to be signed by the end of August 1999. Siegfried Wolf, chief executive of Magna Europe, says that SAT did not reach the critical size to survive on its own.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
GERMANY: LIBRO TO BUY BOULEVARD
Article Abstract:
Subject to the approval of the supervisory board, Libro AG is to take over from the Bertelsmann group 11 Boulevard bookshops in Germany. Thus the Austrian book seller, which operates 5 bookshops in Bavaria with a turnover of about Sch 30mn, expands mainly in North Rhine-Westphalia. In 1998 the Boulevard shops with 50 staff generated a turnover of about Sch 100mn. Bertelsmann's book clubs will continue to be represented in Boulevard outlets on a shop-in-shop basis. Libro and Bertelsmann already have a similar cooperation in Amadeus bookshops in Austria.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: MUMBAI PORT TRUST: GEARING UP FOR THE CHALLENGE AHEAD VPT TO BUILD ANOTHER BERTH. JNPT HANDLES RECORD CONTAINER TRAFFIC IN AUG
- Abstracts: DENMARK: MARKETING OF ORGANIC FOODS. DENMARK: MD FOODS TO CONTINUE SPONSORSHIP
- Abstracts: FUSIONSBOLGE PA VEJ I FORSIKRINGER DENMARK: DAMAGES TOTALLED DKR 3BN. DENMARK: CODAN TO DEVELOP E-COMMERCE
- Abstracts: Benetton family buys a stake in Pirelli & Co. Pirelli unveils new tire-making process
- Abstracts: TELE DK PA VEJ MOD EN MIO MOBILKUNDER MOBILSELSKABER I KRIF OM FREKVENSER DENMARK: GTS TO ENTER MOBILE TELEPHONY MARKET