!!!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
W. Weber, Die Verstaatlichung in Oesterreich, 1964; O. 
Gatscha, 20 Jahre verstaatlichte Industrie in Oesterreich, 1966; 
Verstaatlichte Industrie, Fakten und Zahlen, 1966; Verstaatlichte 
Industrie in Oesterreich, Bibliographie und Dokumentation, compiled by 
OeIAG, 1981.


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