The voestalpine Employee Participation, which was introduced in the year 2000 by the company management in conjunction with the works councils, has now been expanded: from April 1, 2017 onwards, the plan is also open to employees in the six voestalpine companies in Romania.
The voestalpine Employee Participation is an important part of the corporate culture: as core shareholders with an interest in securing the company’s future, the workforce guarantees the company’s long-term development. The plan also offers numerous advantages for each participating employee. In addition to the Austrian model with 52 integrated companies, there is a separate international participation plan. This allows employees outside Austria to acquire voestalpine AG shares.
Successful international expansion
It has now been possible to expand this international model further: starting on April 1, 2017, it is now available to over 630 employees working in the six voestalpine companies across all the divisions in Romania: voestalpine VAE Apcarom SA, voestalpine Bohler Welding Romania SRL, voestalpine Automotive Components Arad SRL, BOHLER UDDEHOLM ROMANIA SRL, voestalpine Steel Service Center Romania SRL, and voestalpine Romania SRL.
This expansion required a whole year of preparation, examining details of the tax and shareholding regulations in Romania. “In each country we have to ensure that the legal situation conforms to the fundamentals of our model,” says Kathrin Lutz, voestalpine Employee Participation.
The international employee participation model now includes 84 companies in nine countries: the Netherlands, Great Britain, Germany, Poland, Belgium, the Czech Republic, Italy, Switzerland, and Romania. Currently approx. 2.100 employees working outside Austria have shares in voestalpine AG through the plan, representing a stake of approx. 18%.
"Together with voestalpine internationalization, we intend to extend employee participation in the future, giving employees in countries which are not yet part of the plan the chance to share in the Group’s success."
The only employee participation plan of its type in the world
The voestalpine Employee Participation plan allows employees to directly benefit from the success of the company. Currently holding a stake of 14,8%, employees are voestalpine AG’s second largest group of shareholders. This employee participation model is recognized as the only one of its kind in the world.