voestalpine erects new production facility for ultra-high-tensile fine wire

2012-05-04 |

voestalpine Austria Draht GmbH expands its activities in wire processing and acquires 54% of CPA Filament GmbH from the Steinklauber Group.

At the Fürstenfeld site, a new production facility for ultra-high-tensile fine wire (up to 0.08 mm) will be erected within the scope of a joint venture; the facility will begin operations in late 2012.

voestalpine Austria Draht GmbH is a subsidiary of the Railway Systems Division of the voestalpine Group.

The first expansion stage corresponds to an annual capacity of about 3,000 tons and will create about 40 new jobs in the region.

Dr. Franz Kainersdorfer, Head of the Metal Engineering Division and Member of the Management Board

Additional expansion stages are planned in the next years. Both partners bring comprehensive expertise to this collaboration. voestalpine has comprehensive materials technology expertise, experience in metallurgical technology, and can take advantage of synergy benefits from the proximity of its own steel plant in Donawitz and the collaboration with the Styrian Steel Association. The expertise of the Steinklauber Group as a plant manufacturer and technology leader is in the production of high-tensile fine wire and cord. The project is being subsidized by the Styrian Business Promotion Agency (Steirische Wirtschaftsfördergesellschaft, SFG). Thus another future-oriented product will be manufactured in the Fürstenfeld region, which will add even more value to Styria as a prime business location.

The voestalpine Group

voestalpine is a globally active group with a number of specialized and flexible companies that produce, process and further develop high-quality steel products. The Group is represented by 360 production and sales companies in more than 60 countries. With its highest quality flat steel products, voestalpine is one of Europe's leading partners to the automotive, white goods, and energy industries. Furthermore, voestalpine is the world market leader in turnout technology, tool steel, and special sections, as well as number one in Europe in the production of rails. In the business year 2010/11, the voestalpine Group generated revenues of around EUR 11 billion, and achieved an operating result (EBIT) of almost EUR 1 billion; the Group has around 47,000 employees worldwide.