OMV Chief among BusinessWeek 2004 Stars of Europe
Posted: 21 June 2004
Wolfgang Ruttenstorfer, the chief executive of Austria 's OMV Group – producers and distributors of oil and gas – has been named one of BusinessWeek magazine's 2004 Stars of Europe. This prestigious group is made up of what the magazine describes as “exceptional corporate leaders performing exceptionally well”.
Except for a 3-year period as Secretary of State at the Federal Ministry of Finances (1997-1999), Ruttenstorfer has worked with OMV since he joined the firm as a graduated trainee in the public affairs department in 1976. Since his appointment as Chief Executive Officer of the group 2,5 years ago, the 53-year old has made clear his strategy of profitable growth for OMV by doubling its 2001 market position in terms of produced and sold volume as well as by doubling its market capitalization until 2008. An important step in this direction is the extension of OMV´s investment programme for the 2004 to 2006 period. In total, OMV will invest approximately EUR 3 bn in its core businesses, namely exploration and production as well as marketing and melamine.
With Group sales of EUR 7.64 billion and 6,137 employees in 2003, and a current market capitalization of about EUR 4 billion, OMV Aktiengesellschaft is Austria´s largest listed industrial company. As the leading oil and gas group in Central Europe , OMV is active in 12 CEE countries in Refining and Marketing (R&M).
OMV has set a goal of doubling its 2001 market share from 9% in 2001 to 20% by 2008. In Exploration and P roduction (E& P ) OMV is active in 16 countries on five continents and plans to double its oil and gas production to 160,000 boe/d by 2008. In the Gas segment, OMV has storage facilities as well as a 2,000 km long pipeline system and transports 41 bcm annually to countries like Germany or Italy
The OMV Group also operates integrated chemicals and petrochemicals plants and holds a 25% stake in Borealis A/S, one of the world´s leading polyolefin producers. Other important holdings are: 50% of EconGas GmbH, 45% of the BAYERNOIL-Raffinerieverbund, 9.1% in the Hungarian petroleum company MOL, and a 25.1% stake in The Rompetrol Group, the largest private oil company in Romania .
For more information see http://www.omv.com
Posted by Richard Price,
Editor Pipeline Magazine
Information supplied by companies
or PR agencies who are responsible for content. Send press releases
to info@pipelinedubai.com |
