Here you will find our press releases. Find out about the latest projects, orders, cooperations and other information about voestalpine.
Having already returned to a level of earnings in the first quarter of the current business year that was last seen before the onset of the 2008 financial and economic crisis, the technology and capital goods Group succeeded in further exploiting the continued positive economic momentum. Compared with the same period the previous year, it closed the first half of the business year 2017/18 (April 1 to September 30, 2017) with a significant increase in both revenue and earnings.
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Technology and capital goods group voestalpine continues to expand around the world in the automotive sector. The Group is not only enhancing its presence in the NAFTA region recently, but it is also investing again: some EUR 16 million are intended for further expansion of what is already the world’s largest production site for laser-welded blanks in Linz. Rapidly growing demand for innovative lightweight construction solutions for the vehicle sector is generating another 50 new jobs at the site in Upper Austria, and will contribute to increasing annual revenue in this product segment to around EUR 200 million.
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The activities of the voestalpine Group at its nine Styrian sites have a significant economic impact across Austria: according to a study by the Industriewissenschaftliches Institut (IWI) for the business year 2016/17 which was presented today in Graz, every euro of value produced by voestalpine in Styria generates around two further euros for Austria. This development is driven not least by investments of over EUR 1 billion scheduled over the coming four years, including the world’s most advanced special steel plant in Kapfenberg.
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After more than two years of planning, today the final location decision was taken during the Supervisory Board meeting of voestalpine AG: the most advanced special steel plant in the world, representing an investment of EUR 330 to 350 million and designed to supply the most demanding customer segments, will be erected in Kapfenberg, Austria, where it will replace the existing plant from 2021. Securing around 3,000 jobs in Styria, this major investment by the High Performance Metals Division of the voestalpine Group marks a technological milestone in the manufacture of pioneering high-performance steels for the international aerospace, automotive, and oil & gas industries.
voestalpine continues to strengthen its leading international position in the quality wire sector with the official opening of its new high-tech wire rod mill at the site of the Metal Engineering Division in Leoben/Donawitz in Austria. Each year the fully automated plant—total investment volume EUR 140 million—will produce 550,000 tons of premium rod wire for the most sophisticated applications in the automotive, energy, construction, and mechanical engineering industries. The investment has created over EUR 60 million in value for Austria as a business location during the construction phase alone*.
voestalpine AG has successfully placed a new EUR 500 million corporate bond issue in the capital market to provide funding for general corporate financing, as well as to refinance a senior bond which expires in February 2018. The order book, totaling over EUR 1.25 billion and including around 220 different investors, was of excellent quality. The coupon rate for the 7-year bond is 1.375%.
voestalpine AG hereby informs that in the course of the current investigations of the German federal cartel office against steel producers, an inspection in the office of voestalpine in Linz is conducted today (12th September 2017) for the German federal cartel office. The reason for the inspection is the suspicion of anti-competitive practices in the market for heavy plates. Austrian authorities are cooperating in accordance within the European legal framework.
With wind speeds far in excess of 200 km/h and extensive flooding, Hurricane Harvey, which blew in at the end of August, was one of the greatest natural disasters in the history of the US state of Texas. Thanks to high construction and safety standards, the voestalpine plant in Corpus Christi, South Texas, withstood several days of the raging hurricane without having suffered significant damage. The direct reduction plant, the largest and most modern plant of its type in the world, was able to return to full operation yesterday, September 7. All 220 voestalpine Texas LLC employees are also safely back at their workplace. Last week the voestalpine Group promised emergency funding of USD 350,000 for employees and residents in the region who were affected by the hurricane.
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The US state of Texas is currently experiencing one of the greatest natural disasters in its history. Thanks to high safety standards, the voestalpine direct reduction plant which was erected there in last years survived Harvey—the hurricane of the century which has been wreaking damage since last week—without substantial damage. In the entire South Texas region where Corpus Christi, the site of voestalpine Texas LLC, is located, there was heavy damage that extended to the complete destruction of entire residential areas. For this reason, the voestalpine Group is offering immediate support for affected employees and local citizens, making available USD 350,000 in emergency funding.
With its figures for the first quarter of the business year 2017/18 (April 1 to June 30, 2017) the voestalpine Group once again demonstrates its unique position in both the European and international industry. The exceptional growth in revenue and earnings, both compared to the first quarter of the past business year and with the immediate quarter preceding, underscores more than ever the value of the consistent strategic orientation towards leading technologies and quality coupled with permanent international expansion which has been followed over the past years.