The US administration last night announced its decision regarding steel imports pursuant to Section 232, and confirmed the version already suggested by President Trump last Thursday which includes a general punitive tariff of 25 percent. Currently only the NAFTA partners Canada and Mexico are exempt, although other exemptions may follow.
The technology and capital goods group voestalpine is increasingly securing a key position in the dynamic and growing global electromobility industry. In addition to ultra high-strength yet ever lighter steel as a material for car bodies and battery housings, voestalpine is also revolutionizing the electromobility market with its innovative product solutions for electric motors. The most recent breakthrough has been achieved with the "compacore" process, in which state-of-the-art technologies are used to bond highest quality electrical steel into lamination stacks—the core element in every electric motor—to provide a sustained increase in motor efficiency. Demand amongst premium automotive customers is high: voestalpine has recently invested in a new serial production facility in Nagold, Germany, which is already scheduled to operate at full capacity through to 2021 to complete four orders worth a total of EUR 30 million.
The voestalpine Group’s performance in the first three quarters of the 2017/18 business year regarding both revenue and earnings is second to none against the backdrop of the strongest economic upturn in ten years.