Here you will find our press releases. Find out about the latest projects, orders, cooperations and other information about voestalpine.
voestalpine has concluded negotiations for the sale of German Group subsidiary Buderus Edelstahl. With Mutares SE & Co. KGaA, a recognized investment company is taking over the company based in Wetzlar, Hessen. The contract was signed yesterday and the sale now awaits approval from the relevant competition authorities. The parties have agreed not to disclose the purchase price. The transaction is expected to be concluded by the end of Q4 2024. The expected financial impact of the sale has already been communicated and is included in our earnings forecast for the ongoing BY 2024/25 (EUR 1.4 billion EBITDA).
The Metal Forming Division of the voestalpine Group is responding to structural changes and falling customer demand in the automotive sector by reorganizing its Automotive Components locations in Germany. In future, the plants in Dettingen, Schmölln, Schwäbisch Gmünd, and Böhmenkirch will form a joint production network, with each contributing their specialist technology and product knowledge. Operations in Birkenfeld will be discontinued subject to the outcome of negotiations with the Works Council and IG Metall. The aim of these measures is to secure the future of the automotive supply segment of the Metal Forming Division in the long term, and with it around 2,000 jobs in Germany. The expected financial impact of the reorganization has already been communicated and is included in our earnings forecast for the ongoing BY 2024/25 (EUR 1.4 billion EBITDA).
The international steel and technology group has successfully issued its first green corporate bond, for EUR 500 million. The bond has a term of five years and a coupon of 3.75%, and met with high investor demand. Private investors may also subscribe during the subscription period running from September 26 to October 3, 2024. The entire proceeds of the issue will be used to finance or refinance sustainable voestalpine projects, such as greentec steel.
Held every two years at the Berlin Expo Center, InnoTrans is considered the most important international trade fair in the transport technology sector. As the world’s leading supplier of complete railroad infrastructure systems, voestalpine Railway Systems will be present once again at this year’s event taking place between September 24 and 27. The Group will be presenting its entire portfolio for all types of rail transport, including mixed traffic, urban traffic (trams/metro/urban rail), high-speed traffic, and freight traffic at an exhibition stand 1,000 m² in size. The focus will be on further increasing availability, the associated optimization of life cycle costs, and the digitization of the railroad track using intelligent diagnostic, monitoring, and analysis systems for more effective planning of maintenance work, and the time and cost savings associated with this.
voestalpine has completed the investigation initiated in February 2024 following the discovery of earnings-improving accounting errors at a German company in the Metal Forming Division. The comprehensive investigation by a specialized auditing firm and a German law firm was launched in the aim of identifying the causes and responsibilities for the accounting errors and deriving improvement measures. Now that the results of the investigation are available, it remains clear that all accounting consequences of the accounting errors in the 2023/24 financial statements have been retroactively corrected and fully taken into account, that no outflow of funds took place, and that the initial suspicion against the persons responsible has been proven to be correct.
The Steel Division of the voestalpine Group will be withdrawing from the business of cam units and sliding elements at the Linz site, and will gradually discontinue the business activities of its company voestalpine Camtec GmbH in Linz by the end of the 2025/26 business year (March 31, 2026). Most recently, revenue totaled EUR 12 million (BY 2023/24). The 53 employees affected have the opportunity to transfer to other voestalpine business units in Linz. The employees will be supported individually in their professional reorientation.
voestalpine depends on exceptional training for young professionals as a key success factor for leadership in future global markets. The Group currently offers 1,500 apprentices around the world exciting opportunities in the technology and industrial sector, 1,040 of them in Austria. With the start of the new training year, about 380 young people throughout Austria are beginning their apprenticeship at voestalpine today—about 175 in Upper Austria, about 160 in Styria, and about 45 in Lower Austria. This makes voestalpine one of the largest apprentice trainers in the country.
With its high-tech special tubes and sections, the voestalpine Group is an important partner for demanding customer segments such as the global construction, solar and automotive industries. Only recently, the Metal Forming Division of voestalpine signed new long-term contracts in this product area with two global truck manufacturers for the North American market. For this, the globally leading steel and technology group is expanding its production capacity at its existing site in Indiana, USA. The investment for the expansion amounts to EUR 70 million (USD 78 million) and will create 110 new jobs.
voestalpine Railway Systems, the world's leading supplier of complete railroad infrastructure systems, supplies premium rails, high-speed turnouts and signaling technology to major international projects. voestalpine, which has already equipped numerous world cities with high-tech railroad infrastructure, is currently playing a key role in the modernization of the Vienna streetcar and subway network as the main supplier to Wiener Linien. This year and next year alone, around 20 kilometers of heavy-duty rails will be produced at the voestalpine site in Donawitz for the renewal and an additional 16 kilometers for the construction of three new streetcar lines, with the turnouts coming from Zeltweg.