Photo/voestalpine
This EUR 50 million investment (about USD 70 million) will create 220 jobs. It completes the first phase of the Group’s extensive internationalization program in the automotive sector.
Since 2012, voestalpine has invested over EUR 100 million (USD 140 million) in new plants in China, Germany, Romania, South Africa, and the USA. Additional plants and expanded capacity are in the planning stage.
The steel-based technology and capital goods group voestalpine has consistently expanded its internationalization program. In recent months, new facilities and expanded production capacity went into operation close to the production facilities of well-known premium car manufacturers on four continents. The global presence that already exists in other divisions was thus extended to the automotive sector of the Metal Forming Division.
- We are following the automotive manufacturers, particularly the European ones, into the markets of the future and massively expanding our presence there. With our new materials, we have managed to produce components that have absolutely unique selling points on a global level. We are only at the beginning of our development in the processing area and are therefore accelerating our internationalization program, Wolfgang Eder, CEO of voestalpine AG said.
In the business year 2012/13, the voestalpine Group generated 44 percent of its revenue of EUR 11.5 billion (USD 15.8 billion) in the mobility area, with about two-thirds of that coming from the automotive industry.
