Company in Southern Europe

  • Volkswagen Says CO2 Manipulations Affect Only About 36,000 Vehicles In Europe

    GERMANY, 2015/12/10 German car giant Volkswagen AG (VKW.L,VLKAF.PK,VOW.BE) said Wednesday that it has largely concluded the issues related to carbon dioxide emissions. During internal remeasurements, Volkswagen found slight deviations on only nine model variants of the Volkswagen brand, with an annual production of about 36,000 vehicles. These model variants correspond to around only 0.5 % of the volume of the Volkswagen brand. According to the company, its before figure of about 800,000 vehicles under suspicion has not been confirmed. In early November, Volkswagen had said that it found "irregularities" at the same time as determining carbon dioxide emissions levels, which could affect about 800,000 cars in Europe. Volkswagen added that the negative impact on its earnings of 2 billion euros that was before projected by it has as well not been confirmed.

  • Rosneft, Pirelli and Synthos Future Cooperation Potential of Synthetic Rubber

    ITALY, 2015/11/02 Rosneft, Pirelli S.p.A. and Synthos S.A. signed a Memorandum of Considerate with regard to the approval of the results of the feasibility study and next cooperation in the implementation of the synthetic rubber plant construction project in Nakhodka. The document was signed within the Fourth Eurasian Forum in Verona by Rosneft Chairman of the Management board Igor Sechin, Pirelli Tyre S.p.A. Executive Vice Chairman CEO Marco Tronchetti Provera and Synthos S.A. majority stakeholder Michal Solowow. The signed document underlines the conclusion of the preparation stage of the feasibility study of the synthetic rubber plant construction project in Nakhodka, which included plant conceptual engineering designs and operational requirements, market studies, capital investments and operating costs estimates within the original scope of work agreed in the Memorandum signed in April, 2015.

  • Rosneft Buys Enel’s Stake in Russian Gas Company

    ITALY, 2015/05/12 Rosneft decided to buy a share from company Enel for $1.8 billion in the new move to strengthen its presence in the gas market. National-owned Rosneft, the world’s top listed crude oil producer, has been aggressively expanding its gas business with a slew of purchases, inclunding Russian gas company Itera which it bought for $2.9 billion.

  • Portuguese group EDP sells 50 pct of EDP Asia to ACE Asia

    HONG KONG, 2015/01/01 Energias de Portugal has sold 50 % of its stake in EDP Asia – Investimento e Consultoria, Ltda. to ACE Asia, a subsidiary of CWEI Hong Kong Company Limited, a 100 %-owned subsidiary of China Three Gorges, the group said. In a statement filed with the Portuguese Securities Market Commission (CMVM), the group as well said that the parties valued the 50 % stake in EDP Asia at 94 million euros.

  • Carlsberg, the Danish brewery,

    DENMARK, 2014/11/19 Carlsberg, the Danish brewery, on Tuesday announced it will significantly strengthen its position in Greece through its merger with Olympic Brewery, the third major player in the Greek beer market as Ana-Mpa reports. Carlsberg will own 51% of the new company which will be formed next the merger, while Olympic Brewery's current shareholders will own 49% of the company.

  • Serbian Public Companies Among Central Europe’s Big Earners

    SERBIA, 2014/09/10 Although the vast majority of national-owned companies in Serbia are deficit-makers, Deloitte’s new statement showed that in terms of the majority successful companies in the country, firms in which the national holds a stake are ahead of private businesses. This year's inventory of top 500 companies from Central Europe, based on their sales revenues in 2013, includes ten companies from Serbia, two additional than the last year. With 2.29 billion euro revenues in 2013, Petroleum Industry of Serbia, NIS, which is majority owned by Russia’s Gazprom with the national holding just over a quarter of the stock, is the best-ranked and holds 63rd place in the in general 500.

  • Fiat Suspends Car Production in Serbia

    ITALY, 2014/09/10 Fiat Automobiles Serbia, the country’s major exporter, announced on Monday that it had suspended production at its plant in the town of Kragujevac because of the market slowdown, causing anxiety part around 3,000 workers who were ordered to stop working for three days. "The causes of this temporary setback are external and related to the situation in the European and world automotive markets, which is influenced by the economic crisis," the company said in a statement. It did not say at the same time as production would resume.

  • Spain's Ebro Foods takes 52% share of Garofalo pasta

    ITALY, 2014/06/05 Italian premium pasta maker Pastificio Lucio Garofalo announced Wednesday it signed a preliminary agreement to sell a majority 52% stake to the listed, Spanish multinational Ebro Foods for a total investment of 62 million euros. Ebro Foods is active in the rice, pasta, and condiment sectors, and quoted on the Madrid stock exchange. Garofalo called Ebro Foods an industrial partner with a solid background with which to grow on the basis of a common vision that will "preserve the identity of the company and the product, which owe their distinctive and differentiating traits to the leadership, the workers, inclunding the production site". Development, the Campanian group said, will continue to be managed by headdquarters in Gragnano. Garofalo Chief Executive Massimo Menna said the transaction enables the Italian company to "consolidate the success of our pasta in the world".

  • The recent strategic cooperation transaction between Piraeus Bank and Marfin Investment Group (MIG)

    GREECE, 2014/05/25

  • Eni has restarted today gas production from the offshore platform of Sabratha (Libya)

    ITALY, 2013/12/08 Eni has confirmed that Mellitah Oil & Gas, the Joint Venture operating company (NOC 50%, Eni 50%) in Libya, has restarted today gas production from the offshore platform of Sabratha. Production will start at 4-5 Million cubic meters per day and will gradually increase to reach 11-13 Mcmd during the month of November, during which time all 15 wells on the platform will be progressively reopened. Additional production will as well be added at the same time as the subsea wells are put on stream in 2012. The gas volumes will be processed at the Mellitah treatment plant complex and again shipped to Italy via the Greenstream pipeline, which was re-opened on October 13th, 2011.
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