Verbund Company Description
With a name that long, you can bet that Österreichische Elektrizitätswirtschafts, or Verbund Group, doesn't want anyone to get shorted out. Selling electricity to households and small and large companies in Austria and to large customers abroad, Verbund Group provides more than 29,000 gigawatts. The company generates its power from about 90 hydropower plants it owns, as well as another 20 for which it has procurement rights, and 9 thermal power plants. The Republic of Austria owns 51% of Verbund. In a major consolidation move, in 2006 Austrian oil giant OMV agreed to buy the company for $17 billion.
View the Comprehensive Company Description for Verbund
The Company Description provides a historical perspective of Verbund's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Verbund's evolution in the marketplace.
