Verstaatlichte Industrie#

Nationalised Industry: The Nationalisation Act of 26 July, 1946, provided the legal basis for the nationalisation of 3 Austrian joint stock banks (Creditanstalt-Bankverein, Laenderbank, Oesterreichisches Credit-Institut), of the entire coal mining industry and of the iron ore, lead ore, copper ore and antimony mining industries, oil production and refineries, the entire metallurgical industry, aluminium production, enterprises in the electrical and chemicals industry and the DDSG shipping company. Initially, nationalisation was only partial, since plants under the administration of USIA could only be integrated after the year 1955. The 70 nationalised enterprises developed favourably until about 1965; politically they were largely controlled by the SPOe. Partly restructured in 1963, the nationalised industries were in 1966 transformed into the OeIG (Oesterreichische Industrieverwaltungs-Ges. m. b. H. (OeIG)), which held the title on behalf of the Republic, and on 21 January, 1970, the group leadership was transformed into Oesterreichische Industrieverwaltungs-AG (OeIAG, Oesterreichische Industrieholding AG), which carried out further re-structuring measures. In 1973, the iron and steel industries were amalgamated and sectoral organisation was introduced. Under the OeIAG Bonds Act the federal government assumed liability, which was extended in 1979; the re-organisation failed, however, to resolve the structural and cyclical problems facing the group.

Around 1980, the nationalised industries comprised the following enterprises: VOEST-Alpine AG (with the subsidiary Vereinigte Edelstahlwerke AG); Vereinigte Metallwerke Ranshofen-Berndorf AG (VMW), Elin-Union AG, Simmering-Graz-Pauker AG, Oesterreichische Mineraloelverwaltung (OeMV), Chemie Linz AG (former Oesterreichische Stickstoffwerke AG), Wolfsegg Traunthaler Kohlenwerks AG (WTK), Bleiberger Bergwerksunion AG (BBU), Siemens AG Austria.

Another crisis between 1975 and 1985 required renewed restructuring. After its completion in 1990, OeIAG encompassed the following nationalised enterprises: Austrian Industries AG, VOEST-Alpine AG, OeIAG-Bergbauholding AG, SEH Sonderabfall-Entsorgung-Holding GmbH, and shares in Siemens AG Oesterreich.

The OeIAG Act of December 1993 formed the basis for the gradual privatisation of nationalised enterprises. Some were closed, some were reduced in size, many were partly or fully privatised (sold directly or listed on the stock exchange). Today, nationalised industry has shrunk to a small proportion of its former size. The restructuring measures have been successful; most of the former nationalised enterprises, which are an important part of Austrian industry have been experiencing an upwards trend in performance since the mid 1990s.

Agrolinz Melamin GmbH, Austria Email AG, Austria Metall AG, Austria Technologie & Systemtechnik AG, Berndorf AG, DSM Fine Chemicals Austria GmbH, OMV AG, Austrian Salinen AG, Siemens AG Oesterreich, VAMED AG, VA TECH ELIN GmbH, VA TECH ELIN EBG GmbH, VA Technologie AG, VAE AG, VOEST-ALPINE STAHL AG, Waagner-Biro Binder AG.

Literature#