The Österreichische Industrieholding AG (English: Austrian industry-holding stock corporation) or short ÖIAG, administers the investments of the Republic of Austria in partially or entirely nationalized companies. It is headquartered in Vienna.[1]
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In 1967 the Österreichische Industrieverwaltungs-GmbH (Austrian industry administration GmbH) was established to centralize the administration of the interests in nationalized companies. It was transformed to the Österreichische Industrieverwaltungs-AG (Austrian industry administration AG) in 1970 and at the same instant got assigned the shares of the nationalized companies. Since 1986 it bears its current name. The ÖIAG and the companies it owned formed a group, the Austrian Industries AG until 1993 when this group was split and the ÖIAG was instructed to privatize the companies it owned.
Currently (2005) the ÖIAG owns:
It has owned before:
Often there were severe protests from politicians, unions and workers' councils when these companies were privatised; many times accompanied by strikes.