AUSTRIA: PRINZHORN PAPER TARGETING EAST EUROPE

Article Abstract:

Thomas Prinzhorn says that his group of paper-making companies has full order books until autumn 2000. Group turnover is expected to rise to Sch 7bn from Sch 6.1bn in 1999. In the first quarter profit on ordinary activities grew 12%. In 1999 it increased 20% to Sch 450mn. Due to the weak rate of the euro, the paper group around Hamburger AG is said to be making profits on markets where it never used to be profitable. Mr Prinzhorn expects the situation to change, however, and is to use the cashflow of Sch 1bn expected for 2000 (Sch 900mn in 1999) for strengthening equity and for strategic expansion. The group will continue to focus on central and eastern Europe, while being cautious about investing in the European Union. However, EUR 100mn is to be spent on a new paper machine at the German subsidiary Rieger and EUR 50mn on the Pitten mill. The Hamburger group has acquired a 75% stake in a corrugated board mill in Croatia. The existing mill is to be complemented with a new one. The group that is already active in Hungary, Poland and Romania is now eyeing Bulgaria. Beside Hamburger AG and Rieger, the paper-making group controlled by Mr Prinzhorn includes Mosburger, Brigl & Bergmeister, Saak and Vevce Dunapack.

Asset sales & divestitures, Germany, Bulgaria, Hamburger AG

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AUSTRIA: PAPER INDUSTRY FORECASTS GROWTH

Article Abstract:

The federation of Austrian paper and board industry expects the production of the industry to grow by 2-3% in 2001. In year 2000 production increased 3.6% to 890,000 tonnes and turnover 9.9% to just under Sch 20bn.

Production data

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AUSTRIA: HAMBURGER GROUP TO DIVERSIFY

Article Abstract:

According to the owner Thomas Prinzhorn, the Austrian paper and board group Hamburger is planning to invest in a new product that was not so far included in the group's product range. In year 2001 the group is to make investments of Sch 500mn, of which 50% will be in Austria. According to Prinzhorn, cigarette packaging is a promising market. The group employs about 3,500 staff at 20 locations. Hamburger group is considering entering the Serbian market by setting up a new factory there. The group is also building greenfield corrugated board mills in Croatia and the Ukraine. Altogether the group has 10 projects in the pipeline. In Austria, production capacity at the main plant in Pitten is being increased, and the Stra walchen mill is being modernised. The German subsidiary Rieger would need a second paper machine in order to meet demand. The Hamburger group that comprises Hamburger, Mosburger, Brigl & Bergmeister, Rieger and a number of mills in eastern Europe, saw its pre-tax profit in the first half of 2001 rise to Sch 500mn from Sch 276mn a year earlier. Turnover grew 5% to Sch 5.5bn.

Strategy & planning, New capacity, new plant construction, Paperboard Containers, Paperboard Container Manufacturing, Misc. Converted Paper Products, Ukraine, Paperboard Containers and Boxes, Yugoslavia, Paper Bags, Uncoated Paper and Multiwall Bag Manufacturing, Mosburger AG

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