voestalpine has come a long way. The iron- and steelmaking plant originally built in 1938 as a part of the defense industry of the National Socialist regime was converted into Vereinigte Österreichische Eisen- und Stahlwerke AG (VÖEST).

1945: Foundation of the “United Austrian Iron and Steelworks” in Linz. In the same year it was renamed as the “United Austrian Iron and Steelworks AG” (VÖEST).

1946: VÖEST nationalised

1973: Company merged with ALPINE MONTAN AG (based in Leoben/Donawitz) to form VÖEST-ALPINE AG.

The company became synonymous with all the negative connotations of nationalised industry. In 1985 these led to the resignation of the Managing Board. In retrospect, these actually marked the beginning of the modernisation necessary to create what was to become at the time Austria’s largest ever privatisation – of what had become an internationally-recognised company. This journey is an impressive success story:

From a state-owned company to a publicly-quoted corporation

1993: VOEST-ALPINE STAHL AG, as it was then known, was divided into the three divisions of flat-rolled products, long products and trade.

1995: In October 1995, VOEST-ALPINE STAHL AG was privatised. The initial offering was many-times oversubscribed after just a few hours. The privatisation process reduced the state’s holding to below 40%.

2001: The company, which from then on was known as voestalpine AG, decided on a new company strategy. The strategy represented the vision: “not more steel but more from steel.” This vision entailed profitable growth downstream along the value-creation chain in defined processing areas, not just increases in steel production.

Correspondingly, the company was divided into four units:

• Division Steel (flat-rolled products and processing) 
• Division Railway Systems (rails, points, railway infrastructure and industrial partnerships) 
• Division Automotive (originally ‘Motion’, supply to the automotive industry) 
• Division Profilform (production and processing of tubes and special profiles)

Success since flotation

2003: Decision to successively fully privatise voestalpine AG: The state fully withdrew from the company ownership structure. The company was fully in the hands of private shareholders. This was the starting point of the value growth which continues today.

Since then, voestalpine has grown continually in its three processing divisions through a series of international acquisitions. Simultaneously, its steel basis has been expanded with the largest industrial investment programme in Austrian history (Linz 2010).

The result is reflected in the company’s results: The 2005/2006 financial year, which ended on 31 March 2006, was the most successful in the Group's history by far.