Reports say that the 48-year old detained individual transferred confidential information to a Russian company about technological processes, specifications and clients of the Plansee Group, which specializes in producing refractory metal products and special materials.
Plansee chief executive Michael Schwarzkopf said the company would seek compensation from the detained employee adding that Plansee was currently evaluating the material damages.
He said the employee had been detained Wednesday after the company had contacted the country's Interior Ministry, which had established that the individual had been transferring information to Russia.
Schwarzkopf said other Plansee employees could be also involved in the spy scandal.
He said he was disappointed that his company, which had always promoted openness and trust, had been deceived by its employees.
Investigators will question the detained individual and will make a decision on a formal arrest within 48 hours.
The Austrian Embassy in Moscow has refused to comment.
Russia's trade mission in Vienna said it had no information on the matter. "We have no information. I can only say I am surprised over this incident," trade representative Yury Stetsenko said earlier Thursday.
