voestalpine statement: status of exemptions from punitive US tariffs

2018-10-09 |

Over the past days voestalpine has been able to secure an important partial victory with respect to the punitive US tariffs of 25 percent imposed on steel products which came into effect in June. Of a total of 4,300 applications for product tariff exemptions submitted by our Group and our customers, we have currently received replies from the US administration to 2,640 of them. Roughly 2,360 of these replies were positive, while 280 were negative. This is a further significant reduction in the economic risk that these tariffs represent to voestalpine—at maximum around three percent of Group revenue is directly affected.

In view of this current status, we are optimistic that we will also receive overwhelmingly positive replies to the outstanding applications. In terms of free trade, we welcome the agreement on a new trade treaty which has finally been reached between the USA, Canada, and Mexico, as this is an important precondition for securing economic stability in this region as well as for normalizing trade relationships.

Wolfgang Eder, Chairman of the Management Board of voestalpine AG

voestalpine in the USA

voestalpine activities in the USA contribute significantly to regional value creation, as well as creating and securing jobs at a total of 48 locations. The Group has specifically invested USD 1.4 billion in the production of high-tech products in the USA in recent years, resulting in around 3,000 highly skilled local jobs which make a sustained and positive impact. voestalpine generates around two thirds of its US revenue of around EUR 1.3 billion (BY 2017/18) as a local manufacturer in the USA.

voestalpine-koncernen

Inom sina affärsområden är voestalpine en världsledande teknik- och industrivarukoncern med kombinerad material- och bearbetningskompetens. Den globala företagsgruppen har ca 500 koncernbolag och koncernanläggningar i mer än 50 länder på alla fem kontinenterna. Den är noterad på Wien-börsen sedan 1995. Med sina högkvalitativa produkt- och systemlösningar av stål och andra metaller räknas den som ledande partner för den europeiska bil- och hushållsapparatindustrin samt luftfarts-, olje- och gasindustrin världen över. voestalpine är dessutom världsledande på växelteknik och specialräls samt verktygsstål och specialprofiler. Under verksamhetsåret 2017/18 uppnådde koncernen ett resultat före skatter och avskrivningar (EBITDA) på knappt 2 miljarder euro med en omsättning på närmare 13 miljarder euro och sysselsatte ca 51 600 medarbetare i hela världen.