230.000 m2 for your hi-tech ideas - Austria Today

230.000 m2 for your hi-tech ideas - Austria Today

230.000 m2 for your hi-tech ideas - Austria Today


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The Magazine for Business Location Austria

Ausgabe 04/2006

P.b.b. Verlagspostamt 1130

GZ02Z034082 M


Priority for High-Tech

The basic framework for high technology has steadily improved. Today Austria

is considered one of the best high-tech locations in Europe

Small Giants

Nanotechnology is a key area for Austrian research

Domestic firms have been able to score well


Next, Please!

The new EU enlargement round will create better opportunities

for medium-sized firms to capture the future Romanian and

Bulgarian markets

Business Partner Turkey

An 18-page special section

on the booming country

on the Bosporus


ecoplus. Your plus in Lower Austria

lower austria high performance

Where is the best place to make business in New Europe?

Right in the middle.

There are some very good reasons why more and more companies from around the world –

in search of their ideal site in Europe – come to Lower Austria… and stay. The geographic

location of the region around Vienna is simply ideal: right in the heart of good old Europe –

and right on the doorstep to the booming markets in Central and Eastern Europe. The climate

is exhilarating: more business-minded and more conducive to investments than hardly anywhere

else in Western Europe. The strategy is convincing: Lower Austria has established itself,

also internationally, as a first class high-tech location – above all for future-oriented industries

like bio-technology. And the service is right – from site selection to real estate development

you will only have to deal with one single partner: us. We will gladly show you the contributions

Lower Austria can make to the high performance of your company. Just name the date.

ecoplus. The Business Agency of Lower Austria – “Niederösterreich”


06 Best Chances for

High Tech

The consulting firm Contor

ranks Austria as one of the

most-attractive locations for

technology-oriented firms in

Europe .

08 Power Region in the East

The booming economic region

Vienna Region has developed

into one of the most-important

European centres for the

life sciences.

14 Austrian High Tech

with a Tail Wind

Austrian research has striking

international significance,

above all in the electronic, automation

and bio-technology



M&B Zeitschriftenproduktions GmbH

Münichreiterstr. 25, 1130 Vienna

Tel. +43 (0)1/917 51 18-0, Fax DW 23



18 Red Bio-Technology

Large international life-sciences

firms have had favourable

experiences in Austria.

Boehringer, Ingelheim and

Co. are examples.

20 Small Giants

In the semi-conductor electronic

sector, Austrian firms like

Austriamicrosystems score

even against strong international


Thomas Brey

editor of LOCATION



Mag. Thomas Brey


Mag. Elfi Mayr

Editor: Mag. Thomas Brey


22 Office Location Vienna

The Vienna office market is

booming again. In the coming

years, some extraordinary

projects will come onto the


26 Go East

Romania and Bulgaria's imminent

entry into the EU will

make it easier for mediumsized

firms to conquer both

booming markets.

Hard Facts and Visions

Editorial / Contents


31 Investment Location


An 18-page special section.

The country on the Bosporus

has growth potential that one

can only dream about for the

rest of Europe.

36 Capital Market

How investors can profit from

the boom in Turkey.

42 Austria as a partner

in energy recovery

Austrian firms provide clean

energy in the Antalya region.

Exactly four new EU member states border on Austria. Four countries

that attract investment from all over the world. However, competition

on its doorstep hasn't harmed Austria. Quite the opposite. Austria

is doing a fine job of keeping up with competition from other countries

and is just as attractive to international firms as to domestic companies,

which are more and more strongly expanding internationally.

The basis for Austria as a strong business location is the hard facts:

high productivity, economic stability and growth, a functioning infrastructure,

qualified personnel and much more. But it is the visions that

make the future potential of the location secure. The vision of many

firms that Austria can again become the centre of a prosperous Central

and Eastern European economic region has enabled Austrian companies

to qualify as heavyweights in the booming Central and Eastern

European market. If one lists the international concerns with headquarters

in Austria, names like RZB, Erste, OMV and Wiener Städtische

won't be missing.

PS: I am particularly pleased that we can introduce business

partner Turkey to you in this edition. About no other country has so

much been said and so little known. We hope to be able to contribute

to changing that.

Production: Mag. Uta Apfelknab

Graphics: Martin Völker

Proof-reading: Neil Gillespie


Cover: Boehringer Ingelheim


Mag. Erich Danneberg: +43 (0)1/86670-22349; e.danneberg@kgv.at

Anton Reiter: +43 (0)316/90331-2767; anton.reiter@mediaconsult.at

Harald Kopeter: +43 (0)316/90331-2751; harald.kopeter@mediaconsult.at

Peter Hirschfeld: +43 (0)1/86670-22335; p.hirschfeld@kgv.at



The East keeps booming

The success story has no end.

The region comprising Central, Eastern

and South-eastern Europe will,

after China and India, continue to be

the second-fastest growth area in the

world over the next five-to-seven

years. That is the conclusion of the

report 'Scenario CE/SEE 2020' drafted

by Raiffeisen Research and commissioned

by Raiffeisen Investment


Potential and real growth in CE/SEE

will remain clearly above the average

of the old EU-12, and Southeastern

Europe (Romania, Bulgaria,

Croatia, Serbia and Bosnia-Herzegovina)

will grow significantly faster,

according to RZB chief analyst Peter


The potential growth rate in Central

and Eastern Europe over the next

five-to-eight years will be at least 4.5

per cent, with growth slackening to

3.2 per cent after 2015. The growth

rate in South-eastern Europe will be

0.5 per cent higher. Growth in gross

domestic product (GDP) in 2020 in

Central and Eastern Europe will be

3.2 per cent, or 90 per cent higher


than the EU-12's GDP growth rate of

1.7 per cent, and in South-eastern

Europe will be 4.2 per cent or 150

per cent higher than the EU-12's

GDP rate.

Chinese Technology

Park in Vienna

CATP in Vienna-Kagran. In the last few years

Vienna has established itself as a Central

European business hub and internationally

attractive technology location.

Additional proof of this is the establishment

of the China Austria Technology

Park (CATP) in Vienna by the

People's Republic of China. Last week

in China the question a location for the

technology park was answered. Altogether

three buildings with total usable

space of 40,000 square metres for

offices and laboratories will be built in

Vienna-Kagran. A central partner for

the planning and realisation of this

project is the Vienna Business

Agency (WWFF), the business agency

which also co-founded the project development

company. Construction of

the Euro 80 million project will begin

in 2008.

CATP will promote the settlement of

Chinese high-tech companies in Vienna.

At the same time CATP is intensifying

cooperation between local and

Chinese companies as well as research

institutions, thereby creating economic

advantages for both sides. For Chinese

companies the CATP will be an important

basis for handling the entire European

market. New opportunities have

At a Glance

In that magazine section of Location Austria you will find news about

business location Austria and about Austrian companies in a compact

format. The focal points are international activities, technology and

innovation. In order to publish reports in this area send information to


been opened up to Viennese companies

for entering the booming Chinese

market with their high-tech products.

Thematically CATP is focused on the

following fields of technology: life sciences,

information and communication

technologies, automotive, energy and

environmental technologies, steelmaking

and engineering as well as traditional

Chinese medicine.

OeKB Sustainability

Report among the Top

100 in the World

The only Austrian company in the ranking.

The Oesterreichische Kontrollbank

AG (OeKB) is one of the top 100

companies in the world in terms of

the sustainability and transparency

of its business processes.

This is explained in a current report

by SustainAbility, which was published

in cooperation with the United

Nations Environment Programme

(UNEP) and the ratings agency Standard

& Poor's. The OeKB is the only

Austrian company which made it

into the international ranking of the

renowned British ratings company.


Since 1992 SustainAbility has published

a ranking of the activities and

reports of international companies in

the areas of sustainable management

and transparency in business


The authors of the study identify

three trends in the area of sustainable

management. In this regard, an

increasing number of international

companies recognise that a sustainability

strategy no longer serves primarily

to minimise risks, but is a forward

strategy which can be used for

innovation and entering new markets.

A second trend is that international

financial investors are increasingly

incorporating sustainability reports

into their portfolio information

on listed companies. According to

the study, financial experts stated

that the long-term performance of

shares and financial products profit

from the increased transparency of a

company. A third international trend

is that companies are increasingly

integrating their sustainability

strategies into their actual core business.

In 2003 the OeKB wrote a sustainability

report for the first time and

has published yearly updates since

then (see www.oekb.at). For 2006

there will be a more extensive printed

report again. The focal points of

the sustainability work at the OeKB

lie in reviewing products according

to sustainability-related criteria (indirect

effects) and in reviewing company

processes according to these

criteria (direct effects).



Telekom Austria wins international

Wholesale Award for innovative

information tools

In November, Austria Telekom wholesale manager Josef Trimmel

received an award in the category 'Best Wholesale Market Innovation

- Services' from Capacity Magazine in the framework of a

trade event. The award was for the service 'Roaming Webview'

that allows mobile-phone service providers which network with

Telekom Austria to conduct detailed examinations of bilateral

streams of signals (inbound and outbound).

An international jury, including senior representatives of market

researcher Ovum, the Yankee Group, Atlantic-ACM and trade

magazine Capacity Magazine, selected Telekom Austria for the

prize for Innovative Wholesale Service 2006. Trimmel says that

he is satisfied and that "the Wholesale Award confirms the sustainable

expansion of our services and product portfolios for the

customer segment. 'Roaming Webview' with its analysis and

control features greatly increases customer satisfaction with

mobile-phone service providers. The application has also increased

the interest of international network operators in

Telekom Austria's other services."

Signalling should be understood to be steering codes that make

a telephone call possible in the first place. Signalling makes

links between telephones, continued conversation and termination

of calls possible. In the mobile-phone segment, steering

codes are enlarged through a series of other steering parameters

to make the desired mobility possible. Telekom Austria has

its own signalling network, which is one of the largest and of the

highest quality in the world. Twenty mobile-phone service

providers are already using Telekom Austria's signalling product.

More than a billion signalling messages are sent each day on average.

The application 'Roaming Webview' makes possible a hitherto-unknown

transparency in international signal traffic.

Forty-nine types of signals such as status reports, location updates

and SMSs are transported by Telekom Austria's signal network,

accumulated in 'Roaming Webview' and displayed





Research & Innovation:

Standard for Austria’s Enormous

Competitive Capacity

Austria’s research results are thoroughly respectable on an international basis: according

to a study by the consulting firm Contor, titled ‘Locations of Exemplary Companies

in Europe’, Austria is one of the most attractive locations for technology-intensive

industries and enterprises in Europe. An excessively large number of multinational

companies have their research and development divisions here.

of the research companies belong

57% to the chemical, electronics and

vehicle as well as engineering and steelmaking

industries. According to the latest estimate

from Statistics Austria, this year alone

approximately Euro 6.2 billion will be invested

in research in Austria, which is a solid increase

of 41 % compared to 2001, making the

percentage of spending on research in Austria

a highly respectable 2.43 %. It is not coincidence

that the acceptance of Austrians of

the necessity for science and research is enormous:

according to a study commissioned by

the Ministry of Education, more than 3/4 of

those surveyed are convinced that science

and research make an essential contribution

to the increase in quality of life. At 81 %, there

is an even higher level of agreement that this

area contributes to safeguarding Austria as a

business location.

Strong universities, strong clusters

The Austrian research environment is still

characterised by the strong position of its universities

and the small and medium-sized enterprise

structure of the innovators in the

economy. One focal point of the country’s com-

petence in scientific research is also located in

the 21 universities and university-related institutions.

The research spending of these institutions

totals Euro 1.2 billion per year. With

a share of 81 %, the Federal Government is the

main source of financing. Clusters have meanwhile

become one of the most important structural

policy-related institutions for high

technology. They represent a considerable

source of enrichment for Austria as a technology

location. Some of the biggest clusters are

at the moment the Automotive Cluster Vienna

Region (ACVR), the Furniture and Wood

Construction Cluster Upper Austria (MHC) and

the automotive clusters in general.

Microtechnology and the nanosciences are

a particularly high priority within the high technology

sector in Austria, with semiconductor

electronics and the materials sciences playing

a dominant role. As a cooperation of the Austrian

Research Promotion Agency (FFG) and

the Austrian Science Fund (FWF), the Austrian

Nano Initiative supports the nanosciences

and nanotechnologies here. The initiative is

supported by several ministries, provinces and

various promotion agencies.



Small, smaller, nano

Many domestic companies are some of the

best in the world in their areas of technology

and niche markets and finance their research

and development activities out of their own

pockets. In the area of nanotechnology, for example,

the company Nanoindent Technologies

is causing a furore. Together with Nanoindent

Biometrics GmbH, the market leader in the development

and production of optoelectronic

sensors based on organic semiconductors, has

established the world’s first company focused

on the commercial development and manufacture

of organic biometric sensors for industrial

customers. For the first time in the history of

biometric sensoring, the organic semiconductor-based

multimodal sensor technology developed

by Nanoindent allows several biometric

detection characteristics such as fingerprint

and counterfeit-resistant tissue structures beneath

the skin’s surface to be used simultaneously

for clear authentification.

The Ländle like it microscopically small,

too: one of the most state-of-the-art research

centres for microtechnology in Austria is at

present being established at the Vorarlberg

University of Applied Sciences. In cooperation

with companies and institutions, researchers

at the Dornbirn University of Applied Sciences

are working on the development of modern

Microsystems and working in thematic areas

studying how light can be more efficiently integrated

into optical chips, how image processing

systems can be made faster in the

future and how computer chips can be manufactured

in the future.

Full speed ahead with clean energies.

Austria is also at the forefront in the area

of clean energy. No wonder: here we have

always tried to circumvent conventional forms

of energy, focusing, for example, on hydropower.

The latest thing on the alternative energy

market is biodiesel: the Graz firm BDI

Biodiesel International is the global technology

and market leader for the production of

so-called multi-feedstock plants which produce

biodiesel on the basis of several raw

materials such as plant oil, waste cooking oil

and animal fat. In its research BDI Biodiesel

collaborates with several institutes at Karl

Franzens University and the Technical University

Graz. Wind also supplies clean energy,

however: the company Windtec from

Klagenfurt is an international company which

develops wind power plants and supplies concept

proposals, load calculations, design and


When dirt accumulates as it does, the Aurolzmünster-based

company Scheuch GmbH

supplies innovative technologies and processes

such as vacuum, dedusting and exhaust gas

cleaning equipment for the wood, wood materials,

metal, stone, soil and energy industries,

making Scheuch Gmbh one of the leading companies

for air quality and environmental technology

in Europe today.

In terms of segment, one leading high-tech

company is also the weba group of Upper Austria:

one of the most significant challenges for

the toolmaker weba lies in ensuring the most

sophisticated level quality. weba group has

therefore been ISO 9001-certified since 1995.

The awards and recognitions weba has received

over time, such as the Investment Award

1998, Best Supplier of the Year 2001, the Innovation

Award 2002 as well as Company of the

Year 2004, are synonymous with its high quality





Overview of the High Tech



giant market, considerable

advance in the position of



still important, good domestic

niche players


here there is initiative on the

part of government as well


innovations from Austria are

frequently heard of

Information technology:

major global competition,

Austria strong in consulting

Alternative energies:

good position due to clean

energy policy



The Vienna region, with 140

firms and 3,800 researchers,

has developed into one of the

most-iimportant locations in

Europe for the life sciences.

Power Region in the East

Multicompany and multiregional networks and clusters are becoming increasingly

important in daily business life. The ‘Vienna Region’ excels in Eastern Austria,

particularly around the capital City of Vienna.

The ‘power region’ consisting of the three

federal provinces of Vienna, Lower Austria

and Burgenland excels in numerous hightech

areas and industries of the future: at the

forefront are the fields of life sciences, biotechnology,

information and communication technologies,

ecoindustry, microsystem technology,

nanotechnology, energy production, optoelectronics

and transport and logistics. Excellent

business data have caught the attention of investors,

encouraging them to settle there. For

example, the Greater Vienna Region generates

more than 44 per cent of Austria’s gross

added value, and more than 43 per cent of all

of the companies in the country with salaried

employees are located here.

International mecca of researchers

A multicultural structure makes the region

even more attractive, something reflected in

the area of education. Just under 18 per cent

of all students in the Vienna Region come from

abroad and nearly 62 per cent of all foreign

students in Austria study at universities in the

Vienna region. There is an international influence

in the life sciences and biotechnology laboratories

and research locations as well: with

140 companies and 3,800 researchers the Vienna

Region has developed into one of the

most important European life sciences locations.

Here there are 171 companies involved

in life sciences. In Europe only the Greater Region

of Munich and the so-called Medicon Valley

(a multiregional cluster between Copenhagen

and Malmö) are still clearly ahead of the Vienna


With more than 8000 IT companies and 73,000

employees, the Vienna Region is also one of

Europe’s biggest locations for information technology,

rivalling ‘hot spots’ such as London,

Munich and Paris. Many IT companies have

also chosen Vienna as the centre of their activities

in the Central and Eastern European


markets and generate a solid 20 per cent of the

overall volume of IT revenues in Central Europe

from here.

The eternal call of the car

Starting in 2008 more than three million

cars will be produced in the new EU member

states. 90 percent of these vehicles will

first glimpse ‘the light of the world’ in a radius

of 300km around Vienna. With a network

of 120 companies in the auto industry

(auto industry and logistics) in the Vienna

Region, Vienna plays a central role in the central

region of Europe, which in terms of global

competition has already developed into the

fifth most important region in automotive production.

The high priority of research and development

within the Vienna Region is demonstrated

by many renowned research institutions.

Ahead of all of them are the Austrian Research

Centers Seibersdorf, Danube University Krems

and the Interuniversity Research Institute for

Agrobiotechnology in Tulln.

In October the celebrated opening of the Department

for Clinical Medicine and Biotechnology

took place in Krems. Lower Austrian Deputy

Governor Ernest Gabmann is extraordinarily

pleased: “The years of development are borne

out by the opening of this department.” The

new department is divided into a unit for innovative

blood purification systems, the health

care management centre, the centre for traditional

Chinese medicine focusing on tissue regeneration,

arthrosis research and sports medicine.

“The optimal infrastructure including the stateof-the-art

GMP lab that opened last year, successful

research groups at the Danube University

as well as the IMC University of Applied Science

are an enhancement to the involvement

of many companies in the Krems location,” says

Governor Gabmann. The Technology Center

Tulln (TZT) opened by ecoplus and the city of

Tulln in December of 2005 has also received a

new generation of scientists recently: following

the companies already located there including

Romer Labs, Biopure and Quantas,

TZT has initiated activity with two additional

first-rate companies, Biomin and 55pharma.

Technology has an Address

Tech Gate Vienna: expansion for the fifth anniversary

The journey in time from the Baroque centre of the Habsburg residence

City of Vienna to the technological future of Austria lasts eight minutes, the

time of the trip from Stephansplatz to Tech Gate Vienna on the U1. Austria's

first and biggest Science and Technology Park is well connected to the centre

of the city by underground. The now 50 businesses located in Tech Gate

Vienna are offered a series of location advantages such as flexible room

structure, the best infrastructure, optimal conference and meeting rooms,

parking in the underground garage as well as a direct connection to the


The founding of Tech Gate Vienna is result of an initiative of the City of Vienna

and the Federal Government. The project was realised as a public-private

partnership with the insurance company Wiener Städtische

Versicherung as a private partner. In 2001 the first tenants moved into the

architecturally distinctive building. Now with over 54,000 m 2 total floor

area, the idea has caught on well: a genuine alliance of scientific institutions

with technology-oriented companies has been clearly established,

with 800 employees helping to fashion Austria's profile in the area of R&D.

The best indications of this are four competence centres in the technology

fields of Telecommmunication, Advanced Computer Vision, Virtual Reality &

Visualisation as well as E-Commerce - a combination which demonstrates

the formidable scientific output of this location.

Vienna Region


The great significance of

research and development in

the Vienna region will be

documented through many

renowned research institutes,

such as the Technology Centre.


Technology policy and the symbiosis

of science and business will

also be realised in the new part of

the building. In addition to ample

room for research and development,


TOWER - the necessary 18,000 m 2

expansion - also provides the spectacular

event area Tech Lounge on

the 19th floor with a breathtaking

view over the whole of Vienna.

Tech Gate Vienna

Wissenschafts- und

Technologiepark GmbH

Donau-City-Strasse 1

1220 Vienna

Tel: +43 (1) 205 01 11 - 0




Observation of material transfer using

the AC 2 T-Imaging-System

SRV-Tribometer High

Frequency Friction Machine

The Friction Professionals

With a system-technical approach, the Center of Competence for Tribology - AC 2T is working in the areas of lubrication and

friction technology on the optimisation of abrasion processes for customers in sectors ranging from the automotive to

the medical-technological.

Professor Friedrich FRANEK, the head and scientific manager of the Austrian

Center of Competence for Tribology - AC 2T research GmbH (AC 2T), does not

have an easy job when it comes to a description for laymen of research at his

institute. "Tribology aims at optimalisation of entire systems in regard to the

minimisation of abrasion and maintenance costs as well as the optimisation

of product reliability, especially with allowance for interaction among different

materials, lubricants and product design.

That is rather complicated for the simplest definition, and in fact tribology is

an especially complex, special technical area, the applications of which

apply to e.g. machines, production equipment, transportation systems, drive-trains

and tools. Meanwhile, more than 50 scientists are working at the

Wiener Neustadt Technology and Research Center (TFZ), especially in the

areas of tribo-metrics and system technology, lubricants and lubrication

technology, functional surfaces, the interaction of lubricants and construction

materials, the creation of reaction strata and the modelling of friction

contacts and abrasion processes, as well as specific sensor and condition


The research institute was established in the framework of Kplus-Competence

Center Program. AC 2 T research GmbH is a privately organised research society,

which representatives of both industry and Vienna's Technical

University are members of. In that configuration, AC 2 T is unique in Austria,

and there are no comparable institutions in other European countries that

have an interdisciplinary focus on tribology research at only one location.

Meanwhile, industry is increasingly acknowledging the importance of tribology

research. The high cost of the failure of machinery and other equipment

based on tribo-technology demands assurance of the quality of products

through methodical tribo-design. Through exhaustive analysis of a case of

damage with the help of tribo-technology damage analysis (through fractography,

metallography, microanalysis, etc.), the cause can be detected in a

fast and goal-oriented way.

In the area of chemical analysis, a high-resolution (emissions-) spectrometer

is available. The surface tension, prospensity to foam, precipitation behaviour,

and effects of ageing of lubricants (and other liquids) can be analysed. For the

experimental characterisation of tribological systems and abrasion processes,

AC 2T has a palette of testing devices (tribometer) at its disposal. Specific analyses

require the use of the most-modern analytic and experimental procedures

that AC 2T is using and will continue to develop.

For example, AC 2T in cooperation with TU Vienna has developed a closed, liquid

cell for grid-patter-power microscopy in analyses in the nanometer area.

AC 2 T's field of activity is especially broad. About half of its contracts are in the

automotive area. But AC 2 T also has research contracts with firms in the areas

of electro-mechanics, mechatronics and the materials sector.

AC 2T research GmbH

Viktor Kaplan-Straße 2

2700 Wiener Neustadt

Tel: +43 / 2622 / 816 00

Fax: +43 / 2622 / 816 00 99




Training for Clinical Researchers: an Export Hit

Vienna School of Clinical Research celebrates five years of existence

Since 2001 the Vienna School of Clinical Research (VSCR) has stood

for state-of-the-art post-graduate training for doctors. While it was

initially doctors from Central and Eastern Europe who completed their

training in clinical research here, the VSCR's success went hand-inhand

with an increasing quality level of the training offered.

Up to now, a total of more than 2300 experts from more than 75 countries

have graduated from different types of courses offered by the VSCR,

with a yearly average of 600 to 700 participants. The training courses - e.g.

on implementation and publication of clinical trials, biostatistics, ethics,

and good clinical practice or epidemiology - are popular due to the fact

that they offer up-to-date information and that they are continuously evaluated

for their quality and relevance. The courses that have been developed

with the help and in the context of a network of 15 university partners

who - under the lead of VSCR - collaborate with other stakeholders like

pharma-industry, public bodies and agencies, medical journals or ethics

committees. In a tailored training programme on health outcomes research

not only physicians, but also health officials and pharma representatives

are introduced to the economic an political aspects of clinical research.

The practical work of cooperation at the Vienna School of Clinical Research

is carried out with a strong focus on sustainability.For example, scholarships

are awarded to physicians and governmental health care decision

makers from developing countries, and this is a key aspect of the mission

of the VSCR. The re-location of courses into countries where there is a need

assures the appropriate dissemination of state-of-the-art knowledge and

international standards. While the VSCR has successfully established a

broad network in Sub-Saharan Africa which is primarily based on collaborations

with the Albert Schweitzer Research Laboratory in Lamberene,

Gabon, and the University of Cape Town in South Africa, the VSCR also

aims at extending their activities towards Asia. After a successful start in

Turkey it is the expanding markets of China and India where increased activities

are planned. In summary, also in its sixth year of existence the VSCR

continues to be an Austrian center of excellence that is a strong exporter

of knowledge.


Together with Slovakia, the Vienna School of Clinical Research

(VSCR) is making bilateral efforts to increase the quality of

clinical research. In the scope of the EU INTERREG programme,

a post-graduate training programme was developed

in collaboration with the University of Bratislava and 30

physicians have been enrolled for participation.In addition to

the theoretical course programme a practical exercise in the

form of designing a realistic clinical trial has to be carried out

at the end of the programme for which participants are guided

by experts drawn from the VSCR faculty. Publishable results

are the aim of the international qualification which

implies a high degree of practical relevance. This training programme

complies with the European dimension and is to be

developed further in this context. Currently, a new grant application

has been submitted to the EU Leonardo da Vinci Programme

and preparations are made in view of applications to

the 7th Framework Programme.


Vienna School of Clinical

Research - VSCR

Kölblgasse 10,

1030 Vienna

Tel.: 01/713 40 51 - 0

Fax: 01/713 40 51 - 99





FIB (focused ion beam) milling

through a multilayer system

Depiction of dual beam

Quanta 3D workstation

Surfaces with Their Own Memory

ECHEM develops nanocoatings for everyday use

Galvanising, or coating with metals which takes place using liquid current,

is familiar to most people from their lessons at secondary school.

Building on this basically simple principle of surface treatment, electrochemistry

has long directed its attention to greater objectives but smaller

objects. 'Nanostructured coatings and surfaces' are the developments

which the Kplus Competence Centre for Applied Electrochemistry

(ECHEM) in Wiener Neustadt focuses on. These coatings are particularly

suited for use in corrosion protection or in the area of electrochemical

energy storage, for example, supercapacitators which are used in hybrid


These electrochemically produced coatings of the future represent just

one of the focal points of research at the premises of the Civitas Nova

technology park. Applications for environmental technology such as the

purification of polluted water through the oxidation of boron-doped diamond

electrodes are as much on the scientific agenda as are projects for

the automotive industry, for example in the area of corrosion protection

and the much-discussed fuel cells. Prof. Dr. Gerhard Nauer, the Managing

Director of ECHEM, sees a potential which at this point in time has hardly

been tapped but will be of particular interest to Austrian suppliers in the

next few years.

The aim of most ECHEM developments can be summarised as the economically,

as well as ecologically, interesting effort to provide an opportunity

for the industrial partners involved at the centre (currently more

than 40 nationally and internationally active firms) to achieve the development

of improved cost- and time-sparing products with the help of optimised

and environmentally compatible electrochemical methods. Such

products are used as a battery in the family car or an improved circuit

board in a mobile telephone. By means of anodic oxidation, for example,

biocompatible coatings are optimised on implant materials. The surfaces

of expendable parts, printing cylinders and the corrosion protection

process for steel sheets are developed and improved in cooperation with

companies, as are the electrochemical methods for the production of

coating systems for decorative purposes. The processes used take advantage

of all the modern variants of galvanising technology such as

high-speed depositions and pulse plating. These developments are enhanced

by new kinds of modelling and simulation techniques which allow

the direct implementation of research findings in industrial

production. The collaboration between the departments of the Vienna

University of Technology (Prof. Kronberger, Prof. Fafilek), the Graz University

of Technology (Dr. Gollas) and the Faculty of Chemistry at the University

of Vienna, which are involved at ECHEM, facilitates efficient

research which is appreciated by industry and which strengthens the international

position and competitive capacity of the companies involved.

Contract research, says Prof. Nauer, "is an inexhaustible source of new

scientific questions for the future."

ECHEM Kompetenzzentrum für

Angewandte Elektrochemie GmbH

Viktor Kaplan-Straße 2

2700 Wiener Neustadt

Prof. Dr. Gerhard Nauer

Tel: +43 (0)2622 / 222 66 - 0

Fax: +43 (0) 2622 /222 66 - 50



Techno-Z: Austria's Leading Location for Technology


Salzburg counts Techno-Z, which has a total of seven locations in the province, as one of Austria's largest technology

centres. There are more than 100 high-tech firms in chief location Salzburg-Itzling alone.

Techno-Z chief Werner Pfeiffenberger considers the right mix of high-tech enterprises,

leading research institutions and opportunities for additional training

as being decisive for creation of an innovative climate at a location. Many

firms in the information and communications-technology areas profit from

that advantage and close proximity to Salzburg University, with its focus on

computer sciences, to provincial research institution Salzburg Research and

to Salzburg University's Centre for Geoinformatik /Z-GIS). Another prominent

educational institution, the Berufsförderungsinstitut (BFI), will open its doors

at Techno-Z Salzburg during the winter semester in 2007.

Not only a perfect infrastructure but also quality of life and life-style are necessary

for positive development of a location. Techno-Z with ZET has at its disposal

one of the best business restaurants in Salzburg next to the modern

seminar centre. French restaurant manager Michel Serton, who has already

worked for the best restaurants around the world, spoils his guests with highquality,

international cuisine. Employees of firms at the centre have access to

comfortable housing on well-maintained grounds.

The centre's active management takes care of renters' concerns. Pfeiffenberger

says that "Techno-Z is a centre that lives innovation. At the moment, we are

engaged in two big construction projects. We are building a modern educational

centre that will have floor space of several 1,000 square metres for BFI, and

we are creating attractive, ultra-modern office space for three united solutions

AG, which was recently taken over by the US firm VeriSign."

Techno-Z Salzburg,

Bauteil 10.

Photo: Kaindl-Hönig


Schillerstrasse 30,

5020 Salzburg

Tel.: +43 662 45 48 88 110



Techno-Z is also engaged in a big city project in Salzburg-Itzling that is called

SCIENCE CITY SALZBURG. Techno-Z is one of three main partners for implementation

of the vision of a modern city area for the relocation of technology-oriented

firms and the building of a centre for research and development based

on Techno-Z's successful model.

Besides the centre in Salzburg-Itzling, Techno-Z has six other locations in the

Province of Salzburg: Bischofshofen, Mariapfarr, Pfarrwerfen, Saalfelden, Uttendorf

and Zell am See. Around one hundred firms in total are located in the

other six.

Infineon Austria:

Outstanding Competence Centre for microelectronics


Over the past years, Infineon Austria further strengthened its position in the fields of research, development and

production in the automotive, industrial, multimarket and communications sectors. The expansion of the Graz

location was celebrated at the start of October.

Infineon Technologies Austria AG is a subsidiary of the international semiconductor

manufacturer Infineon Technologies AG and follows a successful strategy

concentrating on expanding research and development technologies

with applications in the manufacture of microchips. Infineon Austria employs

some 2,700 staff from 35 nations at its sites in Villach, Klagenfurt, Graz, Linz

and Vienna. In total, around 800 members of staff of Austrian nationality are

active in R&D. To retain its technological lead, Infineon Austria invests in research

and development projects, resulting in the company being named the

‘Research Emperor’ of Austrian industrial firms for the third time by business

magazine Goldener Trend.

Expansion of DC Graz

Since 1998, the Development Center Graz has been Infineon's international

Competence Centre for contactless technologies, developing chips with applications

in automotive electronics, chip cards and security ICs. The centre's internationally

acclaimed research is to be rewarded by the expansion of the

Metahofpark campus, making the DC Graz one of the largest development centres

in the world.

Infineon Austria:

International expertise in

the development and

production of microchips


AVL Headquarters in Graz: AVL

is worldwide the largest

private, independent enterprise

for development of drivetrain

systems with

external-combustion engines

and measurement and test


High-tech enterprise AVL has

3,440 employees worldwide,

with 1,450 in Graz alone, and

turnover of EUR 507 million.

Austrian high-tech in an updraft

Research and innovation are the decisive themes for Austria's economic future. The

high-tech sector, such as the electronic, automation, bio-technology and pharmaceutical

industries, can thank businesses for a large part of total contributions for research.

An Austrian peculiarity, however, is that

growth in contributions to domestic hightech

research is occurring less often in hightech

areas, according to the Austrian research

and technology report. Rather, firms in middle-technology

sectors are making more of

them. Much research is being done in the machine-building,

tool and metal-production industries.

Austrian state and semi-state agencies

are also ‘on the go’ in basic research and research

subsidisation. Austria is above average

in Europe in terms of state subsidy levels. In

Scandinavia, for instance, private industry provides

70 per cent of funding for research and

development, whereas that percentage is only

40 per cent in Austria. Michael Ksela from Austrian

‘research giant’ AVL says that one of Austrian

business' important tasks is ‘to push the

envelope’ as much as possible in funding research.


Model Pupil Styria

Apropos AVL: as a high-tech model pupil,

Styria stands out the most and exceeds the Austrian

average, with business contributions to

research of an average of 2.5 per cent of turnover,

one that not only research giants like AVL,

Roche, Magna and AT&S are committed to. In

many cases, small and medium-sized firms invest

more than 2.5 per cent, and Styrian startups

are often already ‘modern’. Manfred Kink,

the founder of Styrian business promoter SFG,

explains that "We have here the largest platforms

for start-ups' participation in research

and development." In that regard, Kink cites

inter-relationships between the five Styrian

cluster organisations, the 15 competence centres

and the two AplusBZentren.

Business, science and research and development in

Upper Austria

techcEnter has been in Linz's Winterhafen

since 2002. With its 13,000 square metres making

it the largest technology centre in Upper

Austria, it has specialised as a high-tech enterprise

in the areas of information technology,

mechatronics and business-promotion. The

number of newly-created high-tech firms is especially

high there. Susanne Wegscheider, the

Linz Economics Councillor and techcEnter's

supervisory board chairperson, is pleased that

"techcEnter has completely accomplished its

task of serving as a start-up ramp for innovative,

technology-oriented firms, with 33 startups

in three years."

The largest of the 70 some firms in techcEnter

is the Upper Austrian Technology and Marketing

Society (TMG), a leading

technological-political company in Upper Austria.

Other important firms that support

techcEnter's innovative ideas are CATT GmbH,

which offers a wide range of consulting on the

subject of technology funding, and Upper Austria

Research, a research enterprise.

Enormous Opportunities for Carinthian Firms, Students

and Universities

Klagenfurt University's technical focus will

strengthen cooperation in science, research,

education and business applications in Carinthia,

to which Klagenfurt's Lakeside Science & Technology

Park will contribute. One will find decisive

stimulus and great potential in Carinthia,

above all in the area of transport telematics,

on which ASFINAG's research centre is focussing.


TMG CEO Gerlinde Pöchacker

Two billion chip-card modules

produced: Infineon Technologies,

one of the most-innovative

and -successful

semi-conductor producers in

the world, has five locations in

Austria in Villach, Klagenfurt,

Graz, Linz and Vienna.

Carinthia, with the Lakeside Science &Technology Park in Klagenfurt and the Technology Park in

Villach, has made a name for itself as an important centre of technology even outside its borders


AREA m styria

– The Styrian Materials Region Gears Up for the Future

Innovative materials as a factor for success

The long-established industrial region of eastern Upper Styria is taking a new

approach to its marketing. In cooperation with local EU regional management,

the cities of Bruck/Mur, Kapfenberg, Kindberg, Mürzzuschlag, Leoben and

Niklasdorf have combined, forming a powerful marketing organization with

the resounding name of AREA m styria GmbH. The M stands for materials – the

obvious core competency of the region: the manufacture and further development

of innovative materials and their use in all high-tech areas.

More targeted marketing of materials in Europe

Through the cities’ joint initiative as a materials region, the region’s strengths

can be better communicated and investors more purposively approached in

the European region. “Our key companies and their products are known

internationally. With our range of services for investors and innovators we

want to reach this level of esteem for the entire region of AREA m styria,” says

one of the Joint Managing Directors, Wolfgang Wiesenhofer, who is also head

of enterprise services in Kapfenberg.

This range of services includes industrial Real Estate and commercial zones

which guarantee first-rate infrastructure and optimal, international connections.

Investors and business people settling in the region profit from an

attractive network the spectrum of which ranges from the promotion of

innovation to customised quality measures for employees and includes international

marketing. The region excels not least due to its outstanding educational

opportunities at the University of Leoben, the strongly

industrially-oriented University of Applied Sciences in Kapfenberg and the

numerous educational institutions in the field of materials.

In the scope of its marketing initiatives at international trade fairs such as the

Upper Styria stands for the

manufacture and development

of new materials and their

high-tech applications.


The managing directors of AREA m

Styria GmbH: Leopold Pilsner (l.),

also managing director of WIL

GmbH in Leoben and Wolfgang

Wiesenhofer (r.), also director of

the Business Services Department

of Kapfenberg.

Expo Real in Munich and the materials trade fairs Materialica and Euromold,

AREA m styria courts potential investors and cooperation partners for its

region. Moreover, in the start-up initiative Gründerland Obersteiermark

powered by the Styrian Business Promotion Agency, AREA m styria offers

workshops and coaching seminars for start-up managers and business

people aimed at accelerating the establishment of businesses in the region.

AREA m styria GmbH

Tel.: ++43 3862 21234 – 0

Fax: ++43 3862 21234 – 19

Mail: office@areamstyria.com



■ state-of-art infrastructure

highway connenction to Vienna, Graz, EU-East

■ innovative R&D-partners: FH, HTBL, MUL

■ first grade specialists

■ synergy potential with global players

230.000 m 2

for your

hi-tech ideas

■ reliable providers of industrial related services

■ top assistance for business set-ups

high quality of living, excellent leisure opportunities

■ tailor made economic funding

Information: City of Kapfenberg, Dep. Enterprise Services

Wolfgang Wiesenhofer, phone: 03862/22501-1040, e-mail: wirtschaftsservice@kapfenberg.at


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Pipetting test solutions for

biochemical experiments

The young Vienna bio-tech firm

Intercell is developing

intelligent vaccines.


Healthy Success

Growth and important accomplishments are the bottom line of red biotechnology

in Austria

Over the past few years, Austria has developed

to become an internationally recognised

research location in the life services

sector – after all, multinational corporations,

such as Baxter, Novartis, Quintiles, Roche, Eli

Lilly or Boehringer Ingelheim have set up camp

in Austria. In-depth expertise possessed by local

research institutes in the sector, coupled

with a high standard of living and proximity

to the emerging markets in Eastern Europe,

make Austria a prime location. No less successful

are the inroads that some of the numerous

younger biotechnology companies have made.

The importance of Austria as a business location

to international corporations can be il-

lustrated using the example of Boehringer Ingelheim.

Only last year, the enterprise doubled

its capacity by a further Euro 80 million;

this year, a new biotechnology research and

administration complex was constructed. “The

Regional Center Vienna and the new research

building strengthen Austria's position as a business

location, in the areas of research and

bio-pharmacy and servicing markets in Eastern

Europe”, says management spokesperson Alessandron


An impressive number of biotechnology enterprises

have been established in Austria over

the past years. One such example is Viennabased

Austrianova Biotechnology GmbH. The


company employs a globally unique manufacturing

process to encapsulate living human

cells. NovaCaps® is an innovative cell therapy

for treating cancer of the pancreas. Products

based on living cells offer completely new

methods of transporting and activating pharmaceutical

agents. In future, patients with type

I diabetes should also be helped using this method,

by implanting encapsulated cells which

produce insulin in the required ‘dose’.

Intercell, a continuously growing biotechnology

enterprise based in Vienna and founded

only eight years ago, develops ‘smart vaccines’,

focusing on infectious diseases with high

medicinal demand such as Japanese Encephalitis

or Hepatitis C. As was announced recently,

inflammation of the inner ear, which commonly

occurs in children and until now could only be

treated using antibiotics, will be targeted with

vaccines in the future. Intercell is coordinating

this research project, which resulted in the company

winning the Biotechnical Award 2006

and includes participants from academic and

industrial institutions across Europe.

Nanotechnology is turning into a top theme in Austria for nearly every

branch of industry and for the various scientific disciplines. The subject

of "nano" is interdisciplinary like hardly any other, for nowhere is working

within networks and cooperations as important as here. One thing is

certain - nanotechnology will shape the future in revolutionary ways -

and business and science will play an enormous role in the process.

One successful method of supporting cooperations are cooperation exchanges

or partnering days. In addition to lectures on new nanotechnologies

and sponsoring opportunities, every participant sets up a

"technology profile" in order to promote his or her own work or to search

for specific partners in the fields of science or industry. With the help of

this profile, partners can be evaluated and contact established in the

scope of the cooperation exchange.

For this reason such events appeal specifically to executives, directors

of R&D divisions, managers, employees from the fields of innovation,

production, materials as well as scientists from universities, technical

universities, academies and extra-university R&D institutions.

On the 17th and 18th of January in Wiener Neustadt the second international

nanotechnology cooperation exchange is taking place, for which

registrations are possible through the middle of December!

Biotech in Austria


Around 150 companies work in the life sciences sector, employing 10,000 staff. A

further 15 universities and national public research institutes are also active in the


International big players:

Boehringer Ingelheim has expanded oncology research considerably over the past


Baxter produces medicines from blood plasma and develops vaccines, e.g. against

TBEV, meningococci and Influenza.

Eli Lilly operates a central research institute in Vienna, focusing on diabetes, bone diseases,

cancer and much more.

Novartis/Sandoz: Novartis is a specialist for skin diseases and Sandoz develops, produces

and markets generic drugs.

Young success stories in Austria:

Igeneon develops vaccines against lung, bowel and breast cancer

Intercell Intercell develops synthetic vaccines against infectious diseases and cancer.

Austrianova ‘encapsulates’ living cells in order to treat diseases such as cancer of the


Sanochemia develops an internationally patented process for synthesising the rare

agent Galantamin, used to treat Alzheimer's and Dementia.

BenderMed Systems produces every year 30 products which map the immune system.

Detailed information can be found on the website at


Event contact: Dipl. Ing. (UAS) Rainer GOTSBACHER,

Tel.: +43 2622 22859 12, gotsbacher.tbzm@ogms.at


On January 17th and 18th, 2007 the second international nanotechnology

cooperation exchange, the Koop:Nano 07, is taking place in Wiener Neustadt

The "partnering Days" are being sponsored by the Austrian Research Promotion

Agency (FFG) in the scope of the NANO initiative and by the province of

Lower Austria.


Austriamicrosystems specialises

in the design of analogue


Tiniest Dimensions with

Greatest Effects

Research to the order of a magnitude of 1/50,000 of a human hair harbours previously

unforeseen possibilities: Austria on the nano offensive

here's plenty of room at the bottom”,

“Tsuspected Richard Feynman, the father

of nanotechnology, in 1959. All the more reason

to concentrate intensive basic research on

this relatively unexplored dimension. “Material

properties change in the micro and nano

dimensions. For example, mechanical firmness

increases, and otherwise soft metals such

as aluminium, possess properties at a breadth

of 50nm otherwise exhibited only by massive

steel. This is due to the small dimensions which

can result in changes to material defects”, says

Gerhard Dehm, Director of the Erich Schmid

Institute of Materials Science, at the Austrian

Academy of Sciences in Leoben. Around 50

researchers at the ESI and the adjacent material

physics department of the University of Leoben

are occupied with the mechanical properties

of materials and developing measurement methods

for materials as low as 10s of nanometres

in thickness. The resulting test procedures

allow material defects to be studied under electron

microscopes whilst subjecting the material

to stress, which allows valuable insights

into the events taking place on the inside of

the material and explains scale effects. This

year, Dehm and his team won the Province of

Styria's research award for nanoscience and


One of the immediately apparent targets in

the field of nanotechnology is further miniaturisation

of optoelectronics and semiconductor

electronics. One of the leading international

businesses in the semiconductor sector is Austriamicrosystems,

a designer of analogue semiconductors.

The Styrian company, which has

invested in the research and development of

analogue designs for over 25 years, produces

microchips that can be found globally in almost

all walks of life: in cell phones, MP3 players,

GPS receivers, insulin pens, pacemakers

and much more. Austriamicrosystems is a partner

of the NANONET Styria cluster which has

coordinated and concentrated the expertise

and concepts of nanoscience and nanotechnology

in Styria over the past five years. One of

the key areas in the wide research portfolio of


the Styrian nanotechnology cluster is the field

of bionanotechnology. The NanoHealth project

has the ambitious target of markedly improving

the quality of life of chronically ill

patients. By means of nanotechnology, the project

aims to develop strategies to deliver pharmaceutical

agents directly to diseased organs

or the focus of diseases. The appropriate active

agents will be ‘built in’ to multifunctional

nanoparticles and transported to the target location

where they then dissolve. In addition to

being degradable and toxicologically insignificant,

these ‘Trojan horses’ bring further benefits

regarding the frequency of treatment

and concentration of agents. As a result, any

possible side effects of the treatment can be

minimised. However, there is still a long way

to go before diabetics can use nanomedicines

by swallowing basal insulin in tablet form, or

metastases can be identified even earlier using

fully developed diagnostic methods based on

nanotechnology, according to Frank Sinner of

the Institute of Medical Technologies and Health

Management and coordinator at BioNanoNet:

“Nanomedicine is still in its infancy. The field

harbours enormous potential and is likely to

change the field of medicine radically within

the next 8 – 15 years.”

In Innsbruck, research is progressing in the

opposite direction. Whilst most NANO groups

concentrate on miniaturising existing technology

and structures as much as possible so as

to reach nano dimensions, the Nano Diamond

Network (NaDiNe) is proceeding in the completely

opposite direction. A given material

with a nanostructure is designed and functionalised,

so that it is economically suited to a

variety of different industrial applications. The

material UNCD (ultra-nanocrystalline diamond)

is used for this purpose as it has excellent properties

due to its biocompatibility, its chemical

stability, easy connection of biomolecules and

transparency. NaDiNe focuses on three core

field of development: cell engineering, implant

technology and biosensors.

In the field of cell engineering, UNCD is a

substance that promotes and controls the growth,

adhesion and differentiation of living cells

outside of the human body. Consequently, UN-

CD’s strengths allow it to be employed as a biosensor

for analysing minuscule surfaces with

high sensitivity, amongst other applications.

“Real-time biomedical and chemical analyses

are thus a possibility”, says Gordon Koell, CEO

at Kompetenzzentrum Medizin GmbH, where

the NaDiNe collective research programme

has been coordinated in cooperation with rho-

BeSt coating GmBH since 2004.

The NSI cluster (Nanostructured Surfaces

and Interfaces) in Linz is working on biocompatible

nanostructures that have diagnostic

and therapeutic applications, such as being

used on nanostructured metallic surfaces and



Defects ("twins") in a roughly

60-nm-thick layer of gold in a

polymer substratum of a

transmission electronmicroscope

are being

examined in a cross-section

Graz's Technical University

nano analysis of a crosssection

of material used in

production of semi-conductors

by means of an electron

microscope, shows that

different colours reveal

different chemical elements.


With floor space of around

40,000 square metres, City

Point is the largest new office

building in the centre of Vienna

in a good ten years.

Best of Office Real Estate

After several years with relatively few new projects, the Vienna office market is now

once again full of life. Increasing demand for modern space has emboldened investors,

with a number of exceptional products expected to hit the market over the coming

years. The new offerings range from functional, cost-effective properties to prestigious

new landmarks.

Cities with a long history and corresponding

structural heritage are often difficult

balancing acts for property developers. On

the one hand, locations are highly attractive,

on the other hand modern buildings are often

an impossibility in the particularly coveted central

districts. Properties listed as historic buildings

are subject to stringent regulations, and

in a city such as Vienna, which is also a UNE-

SCO World Heritage Site, the situation becomes

even more complicated.

It is consequently no surprise that the appearance

of modern office space in central

Vienna has been low for years. Furthermore,

those properties that were completed were often

fully occupied well before completion, as

was the case with the Uniqa Tower, occupied

and owned by the insurance group, and the

City Tower, which will be used by the Republic

of Austria for the next 30 years.

The interest was accordingly high when, towards

the end of 2006, the first large inner city

property for several years came onto the market.

City Point, at 40,000 sqm, by far the largest

piece of office Real Estate to come onto

the market in years, was completed immediately

adjacent to the transport hub at Wien Mitte

in November. The interested parties were

quick to sign up, and only token space remained

unoccupied upon completion. “This clearly

demonstrates that good properties in Vienna

can be let without difficulty and that there is

sufficient demand for new sites”, says Michael

Ehlmaier, CEO of Austria's largest Real

Estate agent, owned by CPB Immobilientreuhand.


The market is indeed on the move. The Donau

City will be expanded north of the Danube,

and the 200 metre DC 1 Tower will provide

the city with another spectacular project in the

coming years. Experts predict a noticeable appreciation

of the entire area north of the Danube,

starting from the floridotower near the

Floridsdorferbrücke and continuing as far as

the Donau City at the Reichsbrücke.

To the south of the Danube, the extension of

the U2 underground line towards the Prater

has focused the imagination of developers.

Office Location Vienna



The two high-rises designed by

Dominique Perrault in

cooperation with architects

Hoffmann-Janz give Vienna

another two impressive and important


The ”Viertel Zwei” is perfectly

located between the city centre

and the airport and will be the

future site of OMV's



High-Tech Offices for High-Tech Companies

The floridotower is becoming a biotech and pharma centre in the Vienna Region

Numerous companies in the biotechnology, pharmaceutical and medical technology

sectors have already opted for the floridotower, most notably US pharmaceutical

giant Pfizer. Pfizer alone has rented several thousand square

metres, due to the outstanding technical quality and high security standards,

and regularly holds its company meetings in the penthouse Circle Lounge,

which provides both a spectacular view and stylish atmosphere.

Gateway to CEE

Other smaller companies and the Central European sales offices of international

players have also decided to locate to the floridotower. For example, pharmaceutical

companies Serono and Phadia, as well as medical technology firm

Straumann, operate from the left bank of the Danube.

Located on the A22 motorway, the location is an ideal starting point for travel

to Central and Eastern Europe. The airport is also easily accessible via the convenient

motorway connection, and the Vienna city centre is in close proximity

by public transport as well as by car.

Working in a pleasant atmosphere

The state-of-the-art office facilities in the floridotower meet the highest international

office standards. Chilled beam ceilings and a climate façade with exterior

sun protection provide a pleasant work environment, and the windows

can be opened, providing oxygen for those doing the brain work. The flexible

layouts make it possible to partition the room in every conceivable manner,

from open space offices to small think-tanks for concentrated work.

The following companies have already

decided in favour of offices in the


• Pfizer Corporation Austria GmbH

• OMV Gas GmbH

• Phadia GmbH

• OMV Solutions GmbH

• Serono GmbH

• First Data GmbH

• Straumann GmbH

• Angst + Pfister GmbH


Floridsdorfer Hauptstraße 1

A-1210 Vienna

Tel.: 0043 50 626 1050

e-Mail: office@floridotower.at



Office Location Vienna

Mag.Michael Ehlmaier



“Good properties can be rented

out in Vienna without difficulty,

and there exists enough

demand in new locations.”

Wiener Stadthalle On the Up

Viertel 2 has already caused much discussion

in this respect. The ambitious property development

already has its first success story to

report: OMV will relocate its new corporate

headquarters to 40,000 sqm upon completion

of the first section in 2009.

This transaction, the largest office letting in

the capital since the New Economy boom at

the turn of the millennium illustrates where

demand for particularly high quality space will

come from in the next years. The massive eastwards

expansion of Austrian businesses has

increased Vienna's appeal as a location for corporate

headquarters. Whilst international corporations

used to service markets between

Prague and Moscow from Vienna, it is now a

case of Austrian enterprises managing their

extensive networks from Vienna-based headquarters.

“Production will tend to move towards

the east”, says CPB CEO Ehlmaier. “With

Austrian businesses looking eastwards, this is

a unique opportunity for Vienna as a corporate

headquarters location, and consequently for

the office market in general”.

In 2008 the Wiener Stadthalle (Vienna’s City Hall) will celebrate its 50th anniversary.

In order to secure a successful future for the Stadthalle far beyond

its anniversary, in the last five years a total of Euro 79 million was invested

in the modernisation and expansion of the complex of halls. With the thorough

modernisation of existing halls, the completion of the new 'Halle F', the

building of the März parking garage and the redesigning of the environs, the

Wiener Stadthalle is the biggest self-contained urban entertainment centre in

Europe. The new technical quality, the increased capacity, improved infrastructure,

central location and excellent connection to public transport are

optimal conditions for the Wiener Stadthalle to play a successful role in the

national and international entertainment business in the future as well.

Nearly three million people have visited a total of 3000 events and the events

of the Wiener Stadthalle Group. 500 events have been held and 1.2 million visitors

counted at Vogelweidplatz alone. The Wiener Stadthalle Group operates a

total of 14 locations. In addition to the large halls in the 15th district, all important

sports arenas in Vienna belong to the company, from Ernst Happel Stadion

to the Albert Schultz Ice Arena and the Stadionbad swimming facility.

Altogether the group generated revenues of Euro 21.6 million in 2005, which

also generated enormous indirect profitability for Vienna's businesses.

New 'Halle F' meets expectations in full:

over 100,000 visitors in just eight months

With the new opening of 'Halle F' in 2006, the Wiener Stadthalle has become

one of the most state-of-the-art show stages in Europe. It has 2000 seats, six

stage entrances, rehearsal

areas, a showroom and VIP areas.

The Austrian Clients Prize

for 'Halle F'

In October 2006 the Austrian

Clients Prize was awarded for

Facts & Figures

Vienna Office Market - Key Figures

Total office space 10.300.000 sqm

Vacancy rate 6,0 %

Prime rent EUR 22,0 / sqm/ m.

Market Indicators:

Supply of office space decreasing

Take-ups increasing strongly


Rental rents

decreasing slightly

Average rents increasing slightly

Prime rents increasing slightly

Top returns stable


The new F hall was opened a short

time ago.

'Halle F' by the Austrian Association of Architects. "Due to the sensitivity of

the architects and support of the clients the structural contribution fits in

perfectly with the basic architectural concept of the builder of the Stadthalle,

Prof. Dr. Roland Rainer", according to the jury's decision.

There will continue to be top events at Vogelweidplatz after the mega-events

which have taken place so far in 2006 - the Rolling Stones concert and Robbie

Williams concert in the Ernst Happel Stadion as well as a successful BA-

CA TennisTrophy (55,000 visitors) and the sold-out concert by Anna

Netrebko & Roland Villazon.

Wiener Stadthalle

1150 Vienna, Vogelweidplatz 14

T. 43 (01) 98100-0

ticket service: 01 79 999 79






























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Gebrüder Weiss GmbH have

been represented in Sofia

since 1992, Bucharest since

1993, with more to follow...

Go East

Whilst the big players have already gained pole position in the EU accession states

Romania and Bulgaria, the gates have now been thrown open for SMBs.

Romania and Bulgaria will join the EU on

1 January of next year. With around Euro

three billion invested in Bulgaria, and approximately

USD eight billion invested in Romania,

Austria has already positioned itself as the

leading investor in both accession states. Furthermore,

the prospects for the future seem to

be rosy: The latest analysis by the Vienna Institute

for International Economic Studies (WIIW)

showed that GDP growth has accelerated unexpectedly

and that forecasts for the coming

year can be revised upwards for most CEE

countries. Economic growth in the new EU

states is forecast to exceed 5 % in both 2006

and 2007, whilst unemployment is declining

faster than initially predicted.

Room for Major Investors

The enormous potential in the new markets

of Romania and Bulgaria, as well as those other

Central and Eastern European states which

are working towards joining the EU, was quickly

recognised by direct investors. Austrian companies

have implemented rigorous early-entry

strategies; OMV for example has acquired attractive

holdings and service stations. Erste

Bank, one of the largest investors in south-east

Europe alongside OMV, recently conducted its

largest foreign acquisition with the takeover

of market leader Banca Comerciala Romana.

October of this year saw the conclusion of the

transaction and thus brought to an end the twostage

privatisation process. The implementa-


tion of a new business plan is scheduled for

the coming months and new customers will be

able to enjoy products and services up to EU

standards, according to CEO Andreas Treichl.

Building up Infrastructure

The forthcoming European Union membership

continues to fuel investments, especially

in those sectors with a large amount of catching

up to do. “The infrastructure sector especially

is running at full capacity in order to raise

standards to those in the rest of the EU”, says

Georg Krauchenberg, regional manager for

south-east Europe at AWO (Außenwirtschaft

Österreich). The entire sector can expect generous

EU grants over the next years. For example,

only 40% of Romanian households are

currently connected to the public sewage system,

of which half of the connections date back

to the years prior to the first World War. 83%

of households will be need to be connected to

the network by 2018. Furthermore, there are

plans to expand the rail network and the Danube

harbour, and to construct a motorway running

from Hungary via Transylvania and ending at

the Black Sea.

Good Mix of Sectors

Representatives of other sectors, not just those

providing the necessary boost to infrastructure,

are also receiving a good share of the cake, as

success stories and the latest publications in

various industries demonstrate. The foodstuffs

sector in Romania is second only to the Polish

market in Central and Eastern Europe, making

it the target of investments by a wide range

of multinational corporations. Austria is particularly

well represented in the drinks industry:

Red Bull GmbH has reported annual growth

rates of 60 – 70%. According to Managing Director

Mihut Craciun, the producer of the drinks

that ‘give you wings’ is far and away the market

leader, with more than 16 million cans sold.

In the supermarket segment, REWE group

recorded a hefty increase in revenue, with the

Romanian market providing the largest successes:

Eurobilla reported increases of 46.5%,

and with 5 new outlets, the supermarket chain

now operates more than 20 locations, making


it the clear number 1 in Romania in terms of

revenue and brand familiarity. Revenue in Bulgaria

also increased by 19.5%.

Only a few weeks ago, Vorarlberg-based

Zumtobel, the leading international manufacturer

of lamps and lighting began manufacturing

operations at a new plant in Curtici. “Romania

offers great advantages as a location, and is an

ideal base camp for access to further Eastern

European markets”, says Andreas Ludwig,

Chairman of the Board of the Zumtobel group.

The group aims to create a further 200 jobs by

2009 and, in addition to manufacturing standard

lighting, aims to introduce an individual

product portfolio catering specifically for the

Eastern European market.

Brick manufacturer Wienerberger has invested

Euro 38 million in Romania since 1998.

The company is now also represented in Bul-

South Eastern Europe

Brick manufacturer Wienerberger

has invested Euro 38 million

in Romania since 1998. The

company is now also represented

in Bulgaria, following the

acquisition of a brick factory in

Lukovit, 120 kilometres northeast

of Sofia.

EUROBILLA has reported

impressive revenue growth in

Romania and Bulgaria


Lamp and lighting manufacturer

Zumtobel opened its latest

plant at the end of October in

Curtici, Romania.

garia, following the acquisition of a brick factory

in Lukovit, 120 kilometres north-east of

Sofia. Bulgaria is a particularly interesting

market for Wienerberger for a variety of reasons.

First of all, a high level of construction

activity continues to be expected in the future,

especially in the conurbations surrounding

Sofia and in the emerging tourist destinations

along the coast of the Black Sea. Secondly,

local construction methods, employing concrete

frames and brick infill, as well as a strongly

fragmented brick market offer promising


Deadline 1 January

Whether it be legislative changes or future

investments over the coming years, on 1 January

the borders to Romania and Bulgaria will

‘open’, and as a result, the opportunities for

small and medium-sized businesses, according

to Thomas Moser, regional manager for

CEE at the transport and logistics firm Gebrüder

Weiss: “Many businesses are waiting

in the wings, and increasingly on the lookout

for business options for the period after 1 January.”

EU membership will mean an end to

lengthy customs procedures at the borders, and

quicker transit times mean reduced costs for

businesses and considerable savings.

The Austrian Federal Economic Chamber is

also fully supportive of companies sensing the

beginning of a new era. With support from the

Federal Ministry of Transport, Innovation and

Technology, the export initiative regularly provides

information sessions for businesses on

location. ‘Austrian Showcase’, which is currently

holding presentations and seminars concerning

opportunities in the environmental and

renewable energy sectors, invites businesses

of all sizes to Sofia at the end of November,

where an overview of the current market opportunities

will be presented and contact can

be made with interested clients.


Water Knows No Boundaries


The Styrian research organisation JOANNEUM RESEARCH invited researchers from Slovenia, Croatia, Italy and Austria

to meet in Graz for the networking of research projects on the subject of water resource.

Water is an excellent subject for international cooperation. The current competence

network ‘Water Resources’ and long-term experience of the team surrounding

Univ.-Prof. Dr. Hans Zojer of the Institute for Water Resources

Management at JOANNEUM RESEARCH are prime examples of the promising

handling of and solution to water problems. For this reason 60 researchers

who have successfully proven their commitment to cooperation in various

network projects met on ‘Water Day’ to discuss their experiences.

“Successful international collaboration brings new challenges for research

and technology in Austria, specifically in Styria, and at the same time requires

new concepts for intergovernmental and interdisciplinary cooperation. We

hope to intensify this fruitful cooperation in the new national programme CO-

MET and will do so as soon as we receive the green light for implementation,”

said the Styrian Provincial Government member who oversees the area of research,

Mag. Kristina Edlinger-Ploder, at the opening.

The cross-border management of water resources is one of the EU’s key themes

in connection with ensuring peace in South-eastern Europe. Many river

valleys run along and cross the borders between Croatia and Bosnia-Herzegovina,

Serbia and Montenegro and other countries. All efforts of the populations

of these regions to increase their standard of living are closely connected to

the use of water reserves. However, sustainable use requires knowledge about

the origin of the water, its reciprocal relationship with the ground and rock

as well as its natural protection against pollution.

The Karawanken as a model example

One project in the Karawanken mountain chain in the border region between

Austria and Slovenia is a model example for the joint research and use of water

resources. From several years of analyses JOANNEUM RESEARCH and the

Slovenian Geological Survey have acquired and evaluated detailed information

on possible aquifers, their access on both sides of the political border, the age

distribution of the spring, etc. As a result, clear recommendations were submitted

concerning where, how much and what quality of water could be obtained

without disrupting the ecological balance. To date it is the only region in

Univ.-Prof. Dr. Peter Glavic (University of Maribor), Styrian Provincial Government

member in charge of research Mag. Kristina Edlinger-Ploder and Mag.

Edmund Müller (JOANNEUM RESEARCH) opened the international meeting of

researchers in Graz.

Europe, the details of whose research results flowed into the European Water

Framework Directive.

“We are meeting here in order to discuss further improvements in projects and

to find out how we can intensify our collaboration for the good of the people,”

says Univ.-Prof. Dr. Hans Zojer, Director of the institute at JOANNEUM RESE-

ARCH: “Styria definitely plays a central role in the organisation of cross-border


JOANNEUM RESEARCH, Institute of Water Resources Management


Kompetenznetzwerk Wasserressourcen GmbH




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können Sie dieses Jahr zu Weihnachten

einer Familie eine Schaufel, eine Gartenhaue

und einen Rechen schenken. Ein Satz dieser

Gartengeräte erleichtert die Selbstversorgung

in Entwicklungsländern wesentlich.

Wenn Sie dieses besondere Jahresabo mit Spendenanteil

zu Weihnachten schenken möchten, kontaktieren Sie uns

bitte unter 01 206 99 666 oder: abo@wienerzeitung.at

Als Dankeschön erhalten Sie eine persönliche Urkunde

aus der Ihre Spende für diese Familie hervorgeht

und die „Wiener Zeitung” für 1 Jahr. Wir garantieren

die verläßliche Weiterleitung Ihrer Spende.

Gut zu wissen.

Eine Spendenaktion der „Wiener Zeitung” in Kooperation mit „World Vision”.



Bestehende Abonnenten kontaktieren für Abo-unabhängige Spenden: aboplus@wienerzeitung.at

A Location Austria Special


Boom on

the Bosporus

The Turkish economy also offers extraordinary

opportunities for Austrian investors and exporters

Energy Know-How from Austria

Leading-edge technology for the utilisation of

water-power at the Ermenek hydroelectric plant

A sweeter deal

from Austria.

Importers and those searching for an

international investor often find that Austrian

partners best fit their needs, with a good mix

of technical know-how, business expertise


and intercultural ability. Better yet, using

Austrian sources usually also means attractive

financing through OeKB. This makes working

together twice as rewarding.

Austria’s Export Credit Agency

Oesterreichische Kontrollbank AG


Austria and Turkey -

Matching Economic Partners

by Ursula Plassnik, Minister for Foreign Affairs of the Republic of Austria

At first glance the title of this article may be

puzzling. Turkey is nine times bigger than

Austria by population and her GDP exceeds

Austria's by almost 20 billion EURO. And yet,

Austria and Turkey are matching economic

partners; one mature, the other dynamic and


Indeed, the Turkish economy underwent a remarkable

reform process over the last couple

of years and consequently, boasted economic

real growth by approximately seven percent.

This is also the reason, among others, why

our business ties have become much stronger

over the same period of time. An important

aspect of our relationship is that Austria and

Turkey are natural partners in a unique geopolitical

situation; Austria as gateway to Central

Europe and Turkey as gate to the Middle

East, the Caucasus and Central Asia.

Currently, it is energy with a capital "E" that

spurs Turkish-Austrian economic activities

above all. Thanks to the booming Turkish

energy sector Austrian investment in this market

grew considerably, making Austria the

seventeenth largest investor worldwide in Turkey.

Austrian OMV, for example, recently acquired

34% of Turkish Petrol Ofisi. Austrian

companies participate in around one third of

the hydropower projects under construction

in Turkey. We are now particularly looking

forward to the realization of the Nabucco pipeline,

in which the Austrian OMV plays a

leading role.

Once in operation, the Nabucco project will

strengthen Turkey's role as an energy hub for

carrying natural resources from East to West,

bringing natural gas from the Caspian Basin

to Austria and other EU countries via the Balkans.

This in turn will further contribute to the

growing trade flow between Austria and Turkey,

which has by far not reached its full potential.

In 2005, for example, our trade volume

amounted to approximately 1.5 billion EURO.

But Austrian investments in Turkey are not

limited to energy alone. They have recently

expanded to include other areas such as the

health sector and paper industry. Also, we expect

the banking and financial services sector

to become the cutting-edge of our future

economic relations, which is a case in point

with numerous emerging economies.

Another aspect of the growing economic partnership

between Austria and Turkey is the

solid base provided by what I would like to

call a "strong and lasting human bridge," a

bridge which was first built by Turkish immigrants.

These immigrants include guest workers

with blue collar jobs as well as an

Austro-Turkish entrepreneurship which gradually

established itself and became a thriving

force and potential multiplier for

Turkish-Austrian economic relations. Today,

a growing tourism industry is also favoring

direct people-to-people contacts. In 2005, almost

half a million Austrians went to Turkey.

Both Turkey and Austria will continue to develop

their economic ties, to fully explore the

potential offered by the complementary nature

of the two economies, for our mutual benefit

and the benefit of our citizens.



Ursula Plassnik, Minister for

Foreign Affairs of the Republic

of Austria



“Turkey has taken great

strides in adapting itself to the

globalized world and Turkish

private sector’s dynamism is

felt over the world” - Abdullah

Gul, Deputy Prime Minister and

Minister of Foreign Affairs-

Republic of Turkey

Turkey: A robust Economy

in a globalized World

Commentary by Abdullah Gul, Deputy Prime Minister and Minister of Foreign Affairs-

Republic of Turkey

The Turkish economy has gained momentum,

especially in the last four years. The

ongoing accession negotiations with the EU has

speeded up Turkey’s efforts to overhaul economic

setbacks. Starting from the financial sector,

and with the accelerated privatization process,

sweeping reforms including social security, agriculture,

energy and telecommunications sectors

have been successfully carried out. More re-

sources from the central budget to

education, public health and infrastructure

have been allocated to

enhance productivity in the Turkish


As a result of our economic policy,

the major objectives of the

programme, namely bringing down

inflation to single-digits and providing

a higher and more stable

economic growth have to a great

extent been achieved. We are taking

further steps to ensure that no diversion

occurs in the economic programme and financial


Furthermore, Turkey has taken great strides

in adapting itself to the globalized world and

Turkish private sector’s dynamism is felt all

over the world. With its dynamic economy, large

internal market, competitive industry and skilled

labour force, Turkey offers numerous opportunities

for foreign investors. Indeed, the foreign

direct investment (FDI) entering Turkey, including

privatized state enterprises in 2005,

has amounted to USD 17 billion. We further

expect an FDI flow of nearly USD 20 billion

this year. It is easy for any foreign company to

find sound infrastructure and local partners for

investing in Turkey. In this process, we give

particular attention to simplifying bureaucratic


Hence, good governance and transparency

are the basic principles we adhere to strictly

with a view to realizing sustainable development.

We remain committed to transforming

Turkey into a sound and modern market economy

while steering the country gradually towards

European Union membership.

Turkey – Facts & Figures:

Population: 72,065.000 inh.

Area: 779.452 km 2

GNP: 380 billion Dollars

Cumulative Growth 2002-2006: nearly 30 %

Annual Growth 2006 (estimate): 5 %

Inflation 2006 (estimate): 9,6 %

External trade volume: 200 billion Dollars

Foreign direct investments

(estimate for 2006): 17 billion Dollars

Austrian trade balance surplus:

+ Euro 47 Million


Professional Partnerships

Kontrollbank, Turklook & Co. provide expertise

As one of the 20 largest economies in the

world, Turkey, is becoming increasingly

interesting to foreign investors; just a few weeks

ago, bauMax AG recently decided to expand.

“At the moment we are evaluating possible locations;

we plan on opening our first branch

in 2009”, says spokesperson Doris Neuwirth.

This economic drive is sponsored by the ‘Plattform

Österreich-Türkei: Gemeinsame Zukunft

in Europa’ (The Austrian-Turkish Platform for

a Common Future in Europe). Founded in 2005

by Turklook and Ecker & Partner, the platform

supports Austrian enterprises as a gateway to

the politics, institutions and other key contacts

in Turkey. Current information for potential

investors is also provided by the Turkish Government

online at www.investinturkey.gov.tr.

On the Austrian side, Kontrollbank plays an

important role, supporting exporters and investors

financially when they enter the Turkish


Kontrollbank: the specialist

Risk financing and insurance also benefits

major projects such as the Ermenek power plant

(for further details see this special edition)

against unforeseen events and consequently

protects domestic businesses from financial damage.

Liabilities in the economic region of Turkey

currently stand at Euro 1.3 billion. Such

projects are implemented in steps, should the

presentation have been positive and the economic

benefits made clear. “Above all, it is necessary

to verify whether the Austrian trade

balance will be affected positively”, says Ferdinand

Schipfer, head of the export guarantees

department. Furthermore, the political and

economic stability of foreign markets is evaluated.

Turkey currently receives 5 out of 7

points on the security rating of European credit

insurers; investments are consequently welcomed.

A positive side effect for domestic

businesses: “We also include insurance of local

performance, if desired”, says Schipfer.

In addition to long term expertise and contacts

with European Kontrollbank institutes, the

decision-making tools also play an important

role. If a project is deemed implementable and

sustainable according to existing criteria, the

green light is given at weekly meetings of the

Advisory Board under the aegis of the Federal

Ministry of Finance. In addition to economic

indicators, the criteria also include OECD environmental


Further Information:

Oesterr. Kontrollbank AG

Mag. Ferdinand Schipfer

Export guarantees - Projects

Tel.: +43 (0)1 531 27 2610

E-Mail: Ferdinand.Schipfer@oekb.at


Ethnomarketing . Consulting . Lobbying

GF Hakan Eskiöncü

Tel.: +43(0)1 494 60 51

E-Mail: office@turklook.at


Investing in Turkey

Ferdinand Schipfer, head of the

Export Guarantees – Project

Underwriting Department

Oesterreichische Kontrollbank

AG (OekB): “Above all, it is

necessary to verify whether

the Austrian trade balance will

be affected positively”.



The Financial Market Specialists

Banks' top contacts a starting bonus for investors

Western accounting standards, a young

and consumerist population, as well as

a strong increase in foreign investments have

moved the Turkish financial market centre

stage. Investors wishing to invest in this growth

market have a starting bonus: the services and

contacts provided by banks with experience

in Turkey.

Whilst optimisations concerning customs and

import regulations are still necessary, Ankara's

monetary policy has improved conditions for

the capital market. For example, the reduction

of corporate income tax from 30 to 20% is worth

mentioning, as well as clear targets by the Turkish

central bank regarding the reduction of inflation.

The country has done its homework

concerning direct investments from abroad,

which is reflected in rising investments. Josef


Pöschl of the Vienna Institute for International

Economic Studies sums up the situation as

follows: “Austria and Turkey have an area of

common interest in the Balkans, with both countries

contributing to the economic development

of the region, from which both countries profit

and will continue to profit in future.”

According to Pöschl, bilateral trade volumes

are set to increase in the coming years, with

Turkey currently the 25th largest trade partner

with Austria: “Regarding Turkey's aspirations

for EU membership, I can see almost no

areas where the membership of such a dynamically

developing country would harm Austria's

economy – in fact, the opposite is the case.”

Bank Austria-Creditanstalt has been operating

in this dynamic market environment as an

investment bank for years, and consequently


knows the local situation well. According to

Bank Austria Director Willi Mermetsberger

(see the accompanying interview), Turkey's

capital market indicators allow very optimistic

forecasts from an Austrian perspective. His

analysis of Turkish trump cards include three

main factors: “Turkey currently possesses a

very mature Stock Exchange. International investors

are becoming more and more interested.

Positive and continuous developments

towards a market economy, reduced national

debt and strong economic growth are of importance

to the situation in Turkey.”

Entry level product: Turkish funds

The Turkish finance sector has profited from

strong growth in the past years, and a budget

surplus was recorded for the first time in

23 years, which is also reflected in the attractive

interest rates. However, funds are recommended

for investors in emerging markets

such as Turkey, allowing for risk distribution.

For this reason, Eli Koen, fund manager of

Fortis L Equity Turkey funds, advises against

direct investment. Koen constantly optimises

the sectors covered by the funds, as the

development of enterprises are often quite

different. Domestic consumption drove sectors

such as insurance, even if consumption

slowed somewhat towards the end of the year,

with 2007 being an election year. September

saw the takeover of Seker Sigorta by the

British Mutual Liberty group. A further indication

to financial investors that investments

products, such as 18% government bonds issued

by the Turkish Republic are interesting

options, especially as the Lira offers an ideal

extension to existing portfolios, due to its

significant independence from both the Euro

and US dollar.

“Both Sides Profit”

Financial Market

Interview with Turkey specialist Mag. Willi Hemetsberger

Director Hemetsberger, as amember of the Managing Board

of Bank Austria Creditanstalt and a Director of the UniCredit

Group’s global securities trading, what interests you in


Hemetsberger: Turkey is a pulsating country with enormous potential

for growth, a hub between Europe and the East with

close historical connections in both directions.

Are there differences when compared with the countries of

Central and Eastern Europe?

Hemetsberger: There is quite a significant one in recent history:

while Eastern European countries were restricted in their development

by the Communist planned economy, Turkey was

able to develop into a functioning market economy. Industry

and trade are under the full control of successful entrepreneurial

families. In the last few years economic growth was above

that of the new EU members. For the near future the potential

for growth is one to two per cent above that of Eastern Europe.

Who needs whom more – does Turkey need the EU or the

other way around?

Hemetsberger: From the perspective of a banker it is clear to me

that we have to ally Turkey with Europe as closely as possible;

both sides profit from trade relations. Of course, support for accession

is dependent on the democratic decision of the people

of the EU. The people of Turkey are also confronted with this

question, and therefore I am not so sure that in the next eight

years they will necessarily opt for an EU with too little dynamism.



DenizBank AG sees itself as a

specialist and financial interface

between Austria and

Turkey. Following the takeover

of the bank by Dexia S.A., a

Belgian-French banking group

based in Brussels, DenizBank

is successfully en route to surpassing

the 100,000 customer

threshold in Austria.

Ismail Ergener,

Director General

at DenizBank AG

VIP Service for Lira Investors

Expansion of DenizBank's branches and special services.

With seven branches across the country

(three in Vienna), Austria is now home

to genuine experts in the Turkish financial market.

Two further foreign branches have been established

in Frankfurt am Main and Dortmund,

in addition to those in Vienna, Bregenz, Linz,

Graz and Innsbruck. As well as providing the

usual range of banking services, these branches

broker insurance and building society services,

as well as handling international money

transfers. The bank's partnership with Money-

Gram ensures that customers are provided with

rapid money transfers to over 75,000 agents

globally. DenizBank provides specialist services

for bilateral transactions between Austria and

Turkey: Daily stock market reports from Istanbul,

hourly electronic money transfers and substantial

opportunities for returns on investments

in the Turkish Lira are just a few examples.

Ismail Ergener, Director General at DenizBank

AG, suggests accordingly that the Austrian

economy in general should scrutinise Turkey's

developments more closely. “Because of prejudice

and politically misleading discussions,

the Austrian economy is only tapping into a

fraction of the potential offered by Turkey.”

The bank's growth itself reflects the success

of dedicated entrepreneurship in Turkey. Founded

in February 1996, parent company DenizBank

AG is expanding rapidly, with 236 branches

and over 6,500 employees, making it the eighth

largest private banking institute in Turkey.

VIP Service in Vienna

DenizBank provides a comprehensive range

of banking services, is an expert on Turkey, and

a credit and forfaiting specialist, as well as providing

professional investment management, returning

high interest rates. DenizBank A.G. is

automatically able to offer its customers a rich

diversity of investment vehicles suitable for balanced

investments precisely by means of DEX-

IA S.A.'s broad spectrum of investment portfolios.

The local Istanbul branch has played an important

role in ensuring that bilateral transactions

are concluded optimally. The treasury and investment

banking department are up to date on

successful investments in Turkey, and are thus

well informed on current growth opportunities.

These developments led to the opening of an investment

centre in September 2006. Located at

Kärntner Ring 14, in Vienna the centre houses

its own private banking VIP lounge for major investors.


SME: Turkey is calling!

Engagement is not a question of size

Growth opportunities rather than the size

of a firm are decisive in engagements by

small and medium-sized enterprises (SMEs) in

Turkey. A picture-book example of that is the

expansion of Embers Consulting GmbH in Ternitz,

Lower Austria. The service provider's 210

employees, most of whom work in Austria, have

been active in the areas of customer communication,

telemarketing, call centres and back

offices since 2006 not only in Györ, Hungary

but also in Istanbul. The history of Embers' initiative

underscores the high quality of human

capital on the Bosporus. Embers CEO Katharina

Schneider became acquainted with her

future partners in the framework of a contract.

The existing trust between them quickly led

to the next step, the acquisition of an existing

call centre and its renovation and expansion.

Sixty employees are making telephone calls for

some of Germany's Outbound Projects, and

their number is expected to increase to 100 by

the middle of 2007. Satisfaction of employee

needs stood in the foreground from the beginning.

Besides a canteen and a prayer room, Embers

Consulting Istanbul provides a daily shuttle

bus service to and from work for employees.

Schneider has some practical tips for SMEs.

"The expansion of management processes above

all else played an important role in the initial

phase. In addition, the institution of a bonus

system based on performance, which qualified

as a novelty, functioned as a motivator."

Full Power under the Crescent Moon

Fortis Fonds Türkei bietet Alternative zur Euro-Zone

The successful currency developments in Turkey, which are independent of

developments in the Euro zone, coupled with a large domestic market and

other factors including a youthful population, make Turkey an exciting market

on our doorstep. According to Eil Koen, fund manager at Fortis Invest Management,

opportunities for investors are largely down to corporate structures: “Turkey

is a much richer corporate universe than the rest of emerging Europe. In

addition, the market is not well covered by the investment community.” For

this reason, the Fortis L fund “Equity Turkey“ was introduced in April of 2005,

so as to benefit optimally from these developments. The fund's capital of 126.4

million Euro is distributed across various growth sectors, from Turk Traktor, one

of two tractor manufacturers (national market share: 40%) to telecommunications

giant Turkcell Iletsisim Hizmet AS to media corporation Dogan yayin.

The current point in time is an ideal opportunity for Austrian investors, with

ongoing negotiations regarding Turkish EU membership. Entrepreneurship is

being rewarded, as Koen illustrates using an example. “One of our very first

investments in Turkey was Finansbank, which we bought for our Emerging

Europe fund for a price of less than EUR 0.50/share - it recently got bought

out by National Bank of Greece for over EUR 3/share.”

Fortis Investments

Monika Reisinger, Client Relationship Management

1010 Vienna, Kärntner Ring 10/13

Tel.: +08000-367847

e-mail: fortisfunds.austria@fortisinvestments.com



"Our entry into the Turkish

market has shown that Turkey

can play an important role in

the business sense for Austrian

firms." - Magister Katharina

Schneider, GF Moore Stephens

Embers Consulting GmbH

Eli Koen, Fortis Investments


Interesting alternative:The

Turkish capital market is

largely independent from

European currency trends.

Low correlation with other European markets

(weekly rolling correlations)

– Turkey-Emerging Europe

– Turkey-Eurozone































The 3,300-kilometer long

pipeline between gas-producing

areas in the Middle East

and consuming areaxs in the

European Union qualifies as a

once-in-a-century energy/political

and technical project.

A Great Hope named Nabucco

Trans-Turkish pipeline secures Europe's energy supplies

The energy-related aspects of negotiations

between Turkey and the EU has a ringing

name to it: Nabucco. The obvious dependency

of the European Union on energy imports

should be lessened by the 3,300 kilometre long

pipeline. The cost of this investment under Austrian

leadership has been assessed at Euro 4.6


The conceptual design of the project, currently

the most important energy project in Europe,

was developed by OMV in cooperation

with Bulgarian Bulgargaz, Romanian Tranzgaz,

Hungarian MOL and the Turkish partner

Botas. The start of construction works is seen

as a means of securing EU gas imports; a wide

range of transport routes and producing countries,

including Azerbaijan, Iran, Iraq, Egypt

and Russia, will be connected to the pipeline.

The EU also supports the project, and 70 per

cent of total investments are to be covered by

the European Investment Bank (EIB) and the

European Bank for Reconstruction and Development

(EBRD). The project's participants envisage

securing long-term energy reserves by

means of employing modern technology and

by covering aspects, such as energy efficiency

and secure supplies, from a wide spread of

energy sources, providers and transport routes.

According to previous technical and economic

feasibility studies, 25.5 billion cubic metres

of natural gas will flow through the pipeline

annually by the year 2020, with a final target

of 31 billion cubic metres per year. Demand in

the EU for natural gas is after all, forecast to

rise twofold, from the current figure of 300 billion

cubic metres per year to 600 – 700 billion

cubic metres by 2025. This unique project is

not set to compete with other pipeline projects,

but rather to connect central Europe to ener-



gy sources by means of a network of several

parallel projects. Many of these projects involve

Turkey, an important strategic partner for

the EU.

Europe's Energy Hub

However, Nabucco and Turkey's strategic

geographical position as an ‘energy corridor’

between the largest gas reserves and consumers

in Europe are not the be-all-and-end-all

of the Union's drive for a diversification of energy

sources. South-east Europe forms a bridge

towards large energy resources, including those

on the far side of the Caspian basin. In this

respect, Vienna will also play an important role

as an energy policy hub. The establishment of

the secretariat of the Energy Community of

South Eastern Europe has set the course for

the single energy market in the region. For example,

Turkish gas expert Hasan Özkoc of the

Energy Community reports on Turkish plans

to construct a pipeline in order to deliver Egyptian

natural gas. “This supply of gas could also

be connected to Nabucco, via Jordan and Syria”

However Özkoc sees the energy questi-

Global assembly

expertise from Linz


MCE Industrietechnik Linz as a reliable partner in Turkey

For decades, MCE Industrietechnik Linz has conducted assembly and service

operations worldwide, focussing on the hydro and metallurgy sectors.

But the Linz-based enterprise has also made a name for itself in the further

development of assembly concepts. In the hydro sector, the company has

proved its worth in a number of projects in Turkey over the past few years;

the Muratli hydro-electric plant was competed in 2005, followed by a second

plant in Borcka this year.

"Close, long-term cooperation with clients, such as with VA TECH HYDRO,

means that even major projects can be completed in record time," managing

director Günter Thaller says regarding the advantages of such cooperation.

Accordingly, MCE Industrietechnik Linz was also chosen for the Ermenek power

plant project. The Linz-based enterprise is responsible for manufacturing and

mounting 5,800 t of penstock, a 110-tonne butterfly valve and 1,700 t of hydraulic

steel structure components. In addition, the firm is responsible for the

installation of two Francis turbines (153 MW each) and ten cranes. Thaller

sums up this international expertise concisely: "Rapid assembly coupled with

transport and prefabrication operations - often under difficult geographic and

climatic conditions - clearly demonstrate our team's expertise."

on as largely independent of the political approaches

between the EU and Turkey but does

concede the role that these project partnerships

play: “Turkey's strategic position combined

with concrete energy projects such as

Nabucco, will make it easier for Turkey and

the EU to make political ground and also accelerate

foreign investment in Turkey”. As a

strategic project Nabucco therefore validates

European hopes on a much larger scale than

just energy supplies.

MCE Industrietechnik

Linz GmbH & Co

Lunzerstraße 64, 4031 Linz

Tel.: +43 732 6987-4740




The planned Nabucco Pipeline

runs across the entire region

of Turkey to the gates of



The hydroelectric-power plant in Ermenek (photo: prefabrication), implemented

with Austrian expertise, is yet another calling card for assembly experts

MCE Industrietechnik Linz.



MERIÇ SOKAK 5/A NO: 14 Bestepe


Tel.: +90 312 2150566

franz.freund@mcelinz.com, www.mcelinz.com

Plant Construction

Pristine landscapes and energy

savings are not polar opposites.

Austrian know-how for

the exploitation of Turkish

hydro-power includes both in

an optimum way.

Turkey looks to Austria for


Austrian industries deliver clean energy to the Ankara region

Whilst the Ilisu dam project is currently in

the evaluation phase, Austrian enterprises

are already in high demand by the hydropower

sector a good distance westwards,

where construction is progressing according

to plan. Ermenek, to the south-east of the popular

tourist destination of Antalya, has been

home to a major construction site for the past

5 years. The construction of a hydroelectric

power station will embellish Turkey's energy

industry with an environmentally-friendly alternative

to thermal or nuclear power stations.

The state-of-the-art high-pressure hydroelectric

power station with a capacity of 310

megawatts has an efficiency factor of more than

92%. A dam across the Ermenek river forms a

reservoir from which the water is transported

to the power station by means of around some

kilometres of headrace tunnel and a 1.5 kilometre-long

inclined pressure tunnel. Two Francis

turbines (diameter 5m) are then used to

convert the hydropower into electricity.

Logical Partnership

The site of the Ermenek power station itself

is symbolic as a meeting point between East

and West. The construction site lies in the vicinity

of the ford where the legendary emperor

Frederick Barbarossa lost his life whilst leading

his army eastwards; in the 21st century,

peaceful cooperation between engineers is the

focus of attention. As Europe's leader in the

field of hydro-electric power plants, Austria

was seen as the logical choice of partner by

the Turkish General Directorate of State Hydraulic

Management (DSI). After all, previous

positive experiences of cooperation in the energy

sector speak a clear language, both as to

quantity and quality, as the following impressively

demonstrates: “The combined capacity

of all Turkish hydro-electric power stations is

more than 12,000 megawatts, of which 9,000 -

or 75% - is the result of partnerships with VA

Tech Hydro”, says Alexander Schwab. The

market manager and corporate communications

director at VA Tech Hydro also sees the

current project as proof of the high expectations

that Austrian business are routinely expected

to meet. The head at Ermenek is 300

metres high, placing additional requirements

on the development of the hydraulic turbine

environment. ALSTOM - the other partner in

the consortium - has a similar, if not larger, interest

in Turkish hydroelectric power plants.

Contracts worth Euro 300 m

The total contract value is Euro 550 million

, of which around 300 million will be received

by the Austrian partners Alpine Mayreder Bau,

ALSTOM Hydro Austria, VA Tech Hydro, Verbundplan

and Voith Siemens Hydro Power

Generation. The Austrian consortium is headed

by ALSTOM Hydro Austria, the Viennabased

subsidiary of international corporation

ALSTOM. ALSTOM Hydro Austria will also

be responsible for electromechanical installa-


tions. MCE Industrietechnik Linz, an enterprise

of Andlinger Group Anlagenbau will assume

responsibility for fixed-site production

and the installation of components in the power

station. The contract also specifies on-site

fabrication and the installation of inclined pressure

tunnels and steel lining as well as the installation

of all screens, stoplogs, cranes and

turbines. Verbundplan was able to draw upon

its long-standing experience with power stations

such as Kaprun and Malta, a further valuable

contribution to the Ermenek project.

With Bank Austria-Creditanstalt, yet another

Austrian company is involved in the project,

this time as co-arranger in the international

banking consortium that provided the complicated

financing of Euro 613 million for the

project. An export credit provided by Österreichischen

Kontrollbank rounds off the monetary

side of this major contract in a tried and

trusted manner: A federal export credit insurance

over a period of five years was granted

in 2003, following a detailed evaluation of the

project and its economic importance. The insurance

protects foreign investments made by

the industrial consortium.

Energy for Tourist Destinations

The ‘hot phase’ began for Austrian engineers

once the construction site had been prepared

by Turkish construction firms in mid 2003, and

the project is scheduled for completion in April

2010. The technical innovations provided by the

Austrian providers of power station technology

have also had a positive impact on the projected

duration of construction, with the project now

forecast for completion earlier than originally

planned. For example, a tunnel drilling machine

Plant Construction

“This contract is an important

stimulus for the Austrian

power station industry,

securing Austria's reputation

for technical competence in

this section of the global

market” - Wolfgang Kölliker,


Plant Construction

Double Benefits

Electricity for Austrian

vacationers in Turkey based

on Austrian know-how

will be used for the first time ever to build a tunnel

in Turkey. Work is being completed on the

heart of the power station: the interface between

the power station and the power grid. “We are

beginning with the installation of the 380 kV

switching station and expect to be finished by

next February”, says ALSTOM project leader

Walter Berger.

Furthermore, it is not only the Austrian

economy that will profit from this important

contribution to Turkey's power grid. Many

Austrians will also benefit directly from the

investment; after all, Ermenek will supply

electricity to tourist destinations popular

amongst Austrians, including the Turkish




"The language problem is not to be underestimated"

Legal expert Mag. Döne Yalçin on the boom market Turkey

Ms Yalçin, what was the decisive factor for

you to work at CMS Reich-Rohrwig Hainz?

Yalçin: The answer is simple: the internationality

of CMS. CMS is an alliance of top European

law firms and CMS Reich-Rohrwig

Hainz is one of the few leading Austrian law

firms with a distinctive international outlook.

One particular focal point lies in Central and

Eastern Europe, with its own offices in Belgrade,

Bratislava, Kyiv, Sofia and Zagreb.

CMS Reich-Rohrwig Hainz advises foreign

clients in Austria and supports Austrian clients

in foreign markets. The logical consequence

was to look at additional interesting markets,

and the Ukrainian and Turkish markets just

could not be ignored in this context.

What expertise do you personally bring to

cross-border legal counselling?

Yalçin: Because of my bilingualism, my legal

education and not least my cultural heritage,

I act in the interest of our clients as a bridge,

not only guaranteeing the prevention of any

language and cultural difficulties in understanding,

but also ensuring the necessary supervision

and monitoring of the legal

implications of the measures of our clients in

Turkey. The language problem is not to be

underestimated. We have already had cases

in which clients had trusted that the legal

texts were equivalent when concluding bilingual

agreements, generally in English and

Turkish. When differences arose between the

clients and we were retained, we determined

that in essential points the texts of the agreements

did not correspond. Small deviations

can frequently result in a completely different

legal meaning, giving rise to legal disputes.

For this reason it is extremely important

to review and put together carefully drafted

agreement from the outset. Through a good

local network comprised of renowned law

firms tax experts, consultants and other service

providers on whose resources we draw if

needed, we provide efficient legal support to

our clients in Turkey.

How do you estimate the potential of Austrian/Turkish

business relations?

Yalçin: First, Turkey is a very large and as yet untapped

market, which presents many opportunities

for Austrian companies. Just a two hour

flight away - about the same time it takes to fly

to England - is a market with 70 million inhabitants

in which there are hardly any restrictions

on foreign investment. At the moment Austria

exports to Turkey, mainly machinery, paper and

paper products, iron, steel and metal goods,

turnkey plants as well as medical and pharmaceutical

products. Industries which are particularly

interesting for Austrian companies are

experiencing a virtual boom, for example the

energy sector, waste management, health care,

road and railway construction and the construction

industry. In my view there are many niches

for Austrian companies on the Turkish market,

winter tourism for example. In the next few years

the opening of several ski resorts and other larger

investments are planned. These are just several

examples of the potential inherent in Turkey

as an investment location. It comes as no surprise

that the number of Austrian companies investing

in Turkey is steadily increasing.

Conversely, Austria is becoming an increasingly

interesting business location for Turkish companies.

Turkish companies choose Austria as a

headquarters location for Europe not only because

of the geographic location but also due to

the high esteem Austrian products and companies

enjoy in foreign markets.

What benefits can companies expect from CMS

Reich-Rohrwig Hainz?

Yalçin: Every business activity abroad requires legal

counselling and service from a reliable partner.

We provide this through our Turkish desk

in Vienna and our partners in Turkey and do so

in the German, English and Turkish language.

At CMS Reich-Rohrwig Hainz clients expect and

receive the necessary special advide from experts

with international experience as well as a

high quality seamless service for cross-border


Mag. Döne Yalçin (28) grew up

bilingual and deepened her knowledge

of Turkey on location after

completing her legal studies in

Vienna. Through an internship at

a renowned Istanbul law office

she gathered experience which

predestined her for bilateral legal

counselling. For more than two

years Ms Yalçin has provided legal

advice to Turkish companies

investing in Austria as well as

Austrian corporate clients who intend

to expand their business activities

to Turkey.

CMS Reich-Rohrwig Hainz

Rechtsanwälte GmbH

Mag. Döne Yalçin

Ebendorferstrasse 3

1010 Vienna

T: +43 (1) 40443-145

Fax: +43 (1) 40443-9145





Practical cooperation:

The conference, ‘Quality and

Excellence in Clinical Research’

took place in Ankara in

November 2005.

Traditional and Innovative

Austrian Research Partnership with Turkey

Austrian and Turkish researchers can look

back on a long-standing tradition of cooperation:

Austrian archaeologists have been

active in Ephesos, the site of the antique Temple

of Artemis, since 1895. The project currently

involves 40 academics and 160 workers

handling annual data in a longitudinal study,

and is sponsored by the Federal Ministry for

Education, Science and Culture and the Austrian

Academy of Sciences.

Emerging issues, such as ecology and health,

have become the focus of bilateral research

over the past years. ERAENV, a project overseen

nationally by the Forschungsförderungsgesellschaft

(FFG), combines efforts on the

subjects of global change and ecosystems: 11

partners from EU member states (including

Austria, Germany, Slovakia, Hungary) and

accession states (Bulgaria, Romania, Turkey)

will focus on questions concerning sustainable

energy production and distribution until the

end of the year.

Clinical Challenges

Clinical researchers from Turkey have attended

international courses held by the Vienna

School of Clinical Research (VSCR) since

2001. As a not-for-profit organisation, VSCR

has dedicated itself to providing clinical researchers

with education and additional vocational

training. As of today, 2,300 experts from

more than 75 countries have taken part in these

courses, including 120 Turkish participants.

The various short courses cover designing, executing

and publishing clinical studies, as well

as biostatistics, epidemiology, ethics, good clinical

practice etc. The courses are developed in

cooperation with international universities, as

well as in conjunction with ethics committees,

authorities, the pharmaceutical industry and

medical journals and publishers. Turkey is also

represented in this international network by

the University of Ankara and Gazi University

Medical School, and thus has a voice on issues

concerning the strategy and programmes provided

by VSCR. Furthermore, Turkish professors

have a permanent position as lecturers in

the Vienna-based programme.

Courses held in Turkey complement the bilateral

knowledge transfer in the field of medicine,

such as courses in Istanbul in 2004, attended

by 40 Turkish psychiatrists, and 2005 in Ankara

for authorities responsible for health policy and

economic decisions and representatives of the

pharmaceutical industry. Due to the success of

the programme, the level of cooperation is going

to be expanded. An application for the EU

programme ‘Leonardo da Vinci’ (over Euro

525,000) is currently underway, as well as preparations

for the EU's 7th Research Framework

Programme, where the first calls for proposals

are expected in Spring 2007.



Turkey know-how at a glance

Office of the Commercial Counselor

at the Turkish Embassy

Gottfried Keller-Gasse 2/12

1030 Vienna

Tel: +43/1 71 31 358

Fax: +43/1 71 24 38 275

E-mail: dtviy@ins.at

TÜSIAD - Türk Sanayicileri ve

Isadamlari Dernegi

(Turkish Industrialists’ and

Businessmen’s Association)

Mesrutiyet Cad. No: 74

TR-34420 Tepebasi - Istanbul

Tel: +90 /212 - 24 91 929

E-mail: tusiad@tusiad.org


T.C. Basbakanlik DIS Ticaret


(Undersekretariat of the Prime

Ministry for Foreign Trade)

Inönü Bulvari No: 36

TR-06510 Emek - Ankara

Tel: +90 /312 - 20 47 500


Austrian Embassy

in Turkey

Atatürk Bulvari 189

06680 Ankara

Tel: +90/312 419 04 31

Fax: +90/312 418 94 54

E-mail: ankara-ob@bmaa.gv.at

TOBB - Türkiye Odalar ve

Borsalar Birligi

(Union of Chambers and

Commodity Exchanges of Turkey)

Atatürk Bulvar� No:149

Bakanl�klar - Ankara

Tel: +90 /312 - 41 38 000

E-mail: info@tobb.org.tr


Department for Southeastern

Europe of the Austrian Federal

Economic Chamber (WKO)

Wiedner Hauptstraße 63

1040 Vienna

Tel: + 43 /0 590 900 4442



Intercultural coaching &





services for www.turrklook.at

Austrian and

Turkish Companies

Knowledge of

intercultural structures



T urk look

Ethnomarketing . Consulting . Lobbying

Geyschlägergasse 13/2 A-1150 Wien

Tel. +43 1 494 60 51 E-mail: offi ce@turklook.at

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