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The voestalpine Group’s medium-term efficiency raising and cost optimization program

2014-03-18 | 

The voestalpine Group assumes that the economic conditions will continue to remain difficult. The leadership position should be safeguarded over the long term, not only in terms of quality and technology but also in terms of results, in order to remain a stable, secure, and reliable employer in the future.

This will be achieved through a Group-wide program of optimizing costs and raising efficiency across all four divisions in the next three years, and with a total volume of around EUR 900 million. Due to the Group’s strong position, the program can be implemented without a cyclical reduction in employee numbers, i.e., in contrast to many other industrial companies, it is assumed that the number of Group employees will remain stable over the medium term. The focus of the program lies in the sectors of working capital, logistics optimization, raising energy efficiency and improving raw materials costs, as well as new methods of organizing a series of business units. Further key areas include optimizing plant maintenance, the drive to use Group synergies, entering new market regions, and accelerating restructuring at problematic sites.

The management is counting on the knowledge and skills of its employees in implementing all these measures, and is convinced that this EUR 900 million program will enable us not only to maintain our leading position but to extend it further, thereby providing the Group with a long-term perspective.

The voestalpine Group

The voestalpine Group is a steel-based technology and capital goods group that operates worldwide. With 500 Group companies and locations in more than 50 countries and on all five continents, the Group has been listed on the Vienna Stock Exchange since 1995. With its top-quality products, the Group is one of the leading partners to the automotive and consumer goods industries in Europe and to the oil and gas industries worldwide. The voestalpine Group is also the world market leader in turnout technology, special rails, tool steel, and special sections. In the business year 2012/13, the voestalpine Group reported revenue of more than EUR 11.5 billion and an operating result (EBITDA) of EUR 1.45 billion. It staffs roughly 46,400 employees worldwide.