TEERAG-ASDAG AG#

TEERAG-ASDAG AG, road construction company with headquarters in Vienna, subsidiaries in all Austrian provinces. Teerag AG was established in 1914 by the merger of two companies, E. Pilhal of Vienna and P. Hiller of Brunn am Gebirge. Most other production sites in Budweis/Ceske Budejovice, Karlsbad/Karlovy Vary, Koeniggraetz/Hradec Králove, Prague, Zagreb and Goesting (near Graz, Styria) were sold after World War I. In 1922, TEERAG AG took over ASDAG Asphalt- und Dachdeckungsges. m. b. H., based in Vienna-Kagran. As early as 1921, the Vienna City Council had bought 40 % of the share capital and has since continuously expanded its share ownership (89.8 %, as of 1993). Renamed TEERAG-ASDAG AG in 1964. In the mid 1990s the Vienna City Council began selling its shares (ownership reduced to 82.6%, then to about 46% in 1999); in 1999 the Allgemeine Baugesellschaft A. Porr AG increased its interest in the company to 35%. Turnover as of 1998: ATS 6.75 billion, staff of 4169.