AUSTRIA: LOWER AUSTRIA SUPPORTS BUILDING SECTOR
Article Abstract:
The Austrian building industry saw several redundancies and bankruptcies in 1999. In the state of Lower Austria, the situation would have been even worse without support from the state. Subsidies of Sch 5.3bn for residential construction led to investments of Sch 18.3bn and secured 25,000 jobs. In 1999, Lower Austria is to increase the income of the building sector to Sch 25bn with the help of orders, subsidies and loans. The residential construction budget is to be increased by Sch 100mn to Sch 5.4bn. The state is to invest Sch 2.5bn in building construction, Sch 1.1bn in road construction and Sch 3.9bn in water-related works. By subsidies and loans, the state is to enable orders worth Sch 1.5bn for new schools and kindergartens. While the construction industry is struggling, black economy is booming. Alone in Lower Austria, work not declared for tax is estimated to have reached the record value of Sch 43.2bn in 1999. The construction industry is affected most by the black economy.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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AUSTRIA: ALPINE-MAYREDER TAKES OVER UNIVERSALE
Article Abstract:
Bank Austria is selling the construction activities of Universale to Salzburg-based Alpine-Mayreder group. While Alpine-Mayreder is strong in western Austria, the strength of Universale lies in eastern parts of the country. The deal, the term of which were not disclosed, involves an annual construction volume of about Sch 6bn. It does not include the real estate and the international operations of Universale, which concentrate on project business and development and generate an annual turnover of about Sch 900mn. These operations are likely to be sold separately. The acquisition makes Alpine-Mayreder Austria's third-biggest construction group (with an annual turnover of Sch 19bn) behind Bau Holding and Porr/Teerag-Asdag.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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AUSTRIA: ALPINE, MAYREDER TO MERGE
Article Abstract:
In Austria, Alpine Bau is to merge with Mayreder Bau, in which it holds a 75.5% stake, in order to be able to exploit synergies better. The new company called Alpine-Mayreder Bau GmbH will have about 6,000 staff and generate an annual turnover of about Sch 14bn.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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