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Overview:
When discussions on privatizing the grid began in 1996, Verbund realized the consequences for its business. Therefore, in tandem with its SAP implementation project, the company undertook substantial business reengineering with the aim of completely reorganizing its business processes. While the structure established by stock corporation law would remain, the business areas would be reorganized. In January 1997, a holding company was founded to manage these business areas and cross-company services such as IT. Verbund has 36 subsidiaries and affiliated companies, with the core area consisting of Austria Hydro Power AG, Austrian Grid GmbH, Austrian Power Trading GmbH and Ennskraftwerke AG. 51% of Verbund is owned by the Federal Republic of Austria and the remaining 49% is privately owned.
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