• croatiantimes.com
• romaniantimes.at
• salzburgtimes.at
• viennatimes.at
• austrianindependent.com

Today

• Vienna - Johnny\'s Pub Quiz
• Vienna - Unknown Underground
• Vienna- January and February at the Austrian Film Museum
• Vienna - Art by Petronilla Hohenwarter.
• STOMP at the MuseumsQuartier

08. 02. 10. - 16:00

• more Business news
• RSS Feed Business

08. 02. 10. - 16:00

CWT share guarantee lasts only another 11 days

Christ Water Technology (CWT) announced today (Mon) that shareholders could sell their shares at a price of 3.35 Euros apiece until 4pm on 19 February but there would be no guaranteed price after that date.

The firm, based in Mondsee in Upper Austria’s Mondsee district, said Canadian water-technology group GLV, which has a majority interest in CWT, had voluntarily agreed to buy back CWT’s shares at that price. GLV reportedly had an interest of 88.52 per cent in CWT as of 5 February.

GLV is a leading global provider of technical solutions in the water-processing, paper and pulp industries. GLV and CWT are active in 30 countries where they have 2,350 employees.

CWT had announced late last month that it had new contracts worth 48 million Euros. It will carry out work on desalinisation of sea water and provision of potable drinking water worth 45 million Euros as well as 3 million Euros of work with a firm in the micro-electronic industry.

CWT said GLV’s headquarters in Montreal would take over its former head-office functions in Austria and Switzerland and its business in North America and Europe would be restructured.

Company officials said then that the value of orders had risen by 56 per cent to 150 million Euros year on year in the first three quarters 2009, while turnover had dropped by 23 per cent to 107 million Euros.

Earnings before interest, taxes, depreciation and amortisation (Ebitda) remained in the red with a minus of 2.1 million Euros but improved compared to the first three quarters of 2008, when CWT suffered losses of 4.5 million Euros.

Austrian Times

Foglar infuriated by 'tactical games'
Austrian Trade Union (ÖGB) President Erich Foglar has accused the vice chancellor of "playing games".

Le Carré novel hits the big screen
A new espionage film is now on at the Burgkino Vienna where all movies are screened in their original versions.

Kadyrov welcomes Austrian right-wingers
A delegation of representatives of a rightist Austrian party met with Chechen President Ramzan Kadyrov, it has emerged.

Gourmet evenings at Linsberg Asia
Less than an hour away from Vienna is the Linsberg Asia - four star hotel, spa and culinary hotspot. For several years now the Linsberg restaurant has been producing award-winning food, receiving the ultimate accolade in the most recent Gault Millau when its lamb was described simply as melt in the mouth.

Felderer 'disappointed' as government eyes up tax hikes
A leading economist has criticised the government for making tax hikes an essential part of its upcoming savings package.

Unionists criticise hotels over mini-jobbers
Labour union leaders are alarmed as the number of tourism sector mini-jobbers is climbing.

Satek snatches Zielpunkt
A German businessman has taken over Zielpunkt.

Europe's highest brewery in Austria
Europe’s highest brewery has opened in Austria. The "Asitz Bräu" which opened for business on 17 December last year, is located at 1,760 metres and is run by the Altenberger family, owners of four star hotel "Der Krallerhof" in Leogang.

Austria registers decrease of business bankruptcies
The number of Austrian business bankruptcies is in decline despite increasingly difficult economic circumstances in Europe.

Austria registers decrease of business bankruptcies
The number of Austrian business bankruptcies is in decline despite increasingly difficult economic circumstances in Europe.