Having already returned to a level of earnings in the first quarter of the current business year that was last seen before the onset of the 2008 financial and economic crisis, the technology and capital goods Group succeeded in further exploiting the continued positive economic momentum. Compared with the same period the previous year, it closed the first half of the business year 2017/18 (April 1 to September 30, 2017) with a significant increase in both revenue and earnings.
Technology and capital goods group voestalpine continues to expand around the world in the automotive sector. The Group is not only enhancing its presence in the NAFTA region recently, but it is also investing again: some EUR 16 million are intended for further expansion of what is already the world’s largest production site for laser-welded blanks in Linz. Rapidly growing demand for innovative lightweight construction solutions for the vehicle sector is generating another 50 new jobs at the site in Upper Austria, and will contribute to increasing annual revenue in this product segment to around EUR 200 million.
The activities of the voestalpine Group at its nine Styrian sites have a significant economic impact across Austria: according to a study by the Industriewissenschaftliches Institut (IWI) for the business year 2016/17 which was presented today in Graz, every euro of value produced by voestalpine in Styria generates around two further euros for Austria. This development is driven not least by investments of over EUR 1 billion scheduled over the coming four years, including the world’s most advanced special steel plant in Kapfenberg.