Record-breaking acquisitions and investment decisions worth billions: Despite global economic challenges, the business year 2001/02 set the course for sustained success.
In 2001/02, voestalpine invested more than EUR 600 million in the expansion of facilities and acquisitions of companies in order to ensure long-term economic security. The funds were used primarily to extend the value-added chain. The market turbulence which followed 9/11 was the first touchstone for the new company strategy.
The takeovers of Polynorm, VAE, and Elmsteel allowed advances to be made in processing competence in the growth divisions motion (Automotive) and Railway Systems. With the EUR 127 million acquisition of Polynorm, voestalpine advanced to become a direct supplier to important automobile manufacturers. The Railway Systems division achieved a similarly good position with the takeover of Klöckner Bahntechnik and the remaining half of the global leading turnout manufacturer VAE.
Investment in the steel site in Linz
With the “Linz 2010” program, the Steel Division began an investment project in the billions with the objective of expanding and comprehensively modernizing the steelmaking site in Linz. Investors attested to the positive future prospects offered by the combination of material and processing competencies by purchasing the shares newly issued during the 2002 increase in capital stock.
Two decades ago voestalpine AG started out on its path to becoming a privatized and exchange-listed company. The ‘IPO 1995–20 years on the stock exchange’ series describes key events on the path to becoming an internationally successful steel-based technology and capital goods group.