Austrian Industrial Management Corporation

   Österreichische Industrie Aktien Gesellschaft
   As a heavy shareholder in Austrian nationalized industry and banks, the government in 1970 set up the ÖIAG as a holding company to oversee these complex operations. The conglomerate also paid dividends: in 2002 it distributed 300 million euros to stockowners. Jobholders in ÖIAG firms were ultimately government employees. Numbering at this time around 170,000, they were part of an operation that was Austria’s single largest employer in Austria itself. The ÖIAG also supervised the merger and restructuring of some of Austria’s heavy industrial infrastructure, primarily iron and steel in 1972. Its managerial responsibilities also extended to monitoring Austria’s competitive position in the world market. To this end, the ÖIAG initiated rounds of personnel layoffs in the heavy metals sector after 1980. It also arranged the sale of industrial assets. ÖIAG firms have been caught up in the wave of privatization that accelerated during the chancellorship of Wolfgang Schüssel. The first of these companies to separate itself from government oversight was the steel manufacturer Böhler-Uddeholm, in which the ÖIAG relinquished all of its shares in 2003.

Historical dictionary of Austria. . 2014.

Look at other dictionaries:

  • Industrial Review — ▪ 1994 Introduction       The period since 1990 was proving a difficult time for the older industrialized economies, which had suffered from prolonged recession at home, and also for the previously centrally planned economies of Eastern Europe… …   Universalium

  • Austrian Federal Railways — Österreichische Bundesbahnen Type Government owned corporation Industry Transport Founded 1923 …   Wikipedia

  • Intel Corporation — Infobox Company company name = Intel Corporation company company type = Public (nasdaq|INTC, hkex|4335) slogan = Leap Ahead foundation = 1968 1 location = Santa Clara, California (incorporated in Delaware) USA key people = Paul S. Otellini, CEO… …   Wikipedia

  • Computing Tabulating Recording Corporation — Fate Renamed Successor IBM Founded 1911 Defunct 1924 …   Wikipedia

  • Austria history: chronology —  ♦ 5000 BCE Late Stone Age culture.  ♦ 2000 Indo Germanic settlements northwest of Vienna.  ♦ 800 Bronze Age settlements on the Vienna Hoher Markt.  ♦ 750 Hallstatt culture.  ♦ 400 Celtic culture.  ♦ 15 Roman occupation of province of Noricum.  ♦ …   Historical dictionary of Austria

  • Nationalized Industry —    The nationalization law of 26 July 1946 made the Republic of Austria the sole shareholder in 70 privately owned mining and manufacturing concerns throughout the country. These included all of the country’s coal, iron, lead, and copper mines;… …   Historical dictionary of Austria

  • Privatization —    Austria came away from its occupation after World War II with one of the most heavily nationalized and in bred economies of noncommunist Europe. Not until the 1980s did the Vienna stock exchange become a useful provider of investment capital.… …   Historical dictionary of Austria

  • Austria history: Acronyms and Abbreviations — ABGB Allgemeines Bürgerliches Gesetzbuch (General Code of Civil Law) BAWAG Bank für Arbeit und Wirtschaft (Bank for Labor and Economic Development) BZÖ Alliance for the Future of Austria (Bund für die Zukunft Österreichs) CP Christlichsoziale… …   Historical dictionary of Austria

  • Austria — Austrian, adj., n. /aw stree euh/, n. a republic in central Europe. 8,054,078; 32,381 sq. mi. (83,865 sq. km). Cap.: Vienna. German, Österreich. * * * Austria Introduction Austria Background: Once the center of power for the large Austro… …   Universalium

  • United Kingdom — a kingdom in NW Europe, consisting of Great Britain and Northern Ireland: formerly comprising Great Britain and Ireland 1801 1922. 58,610,182; 94,242 sq. mi. (244,100 sq. km). Cap.: London. Abbr.: U.K. Official name, United Kingdom of Great… …   Universalium

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.