In 2001 the Group, now voestalpine AG, started its sweeping strategy change. Following the motto ‘Not more steel, but making more out of steel’, it transformed itself from a pure steel-producing enterprise into a processing group, driving forward acquisitions and investments designed to consistently extend the value chain. The 100% takeover of special steel specialist BÖHLER-UDDEHOLM AG followed in 2007/2008, its integration marking a further important step in the Group’s increasing specialization. At the time it was the largest-ever company takeover in Austria. Today traditional steel products, although exclusively in the high-quality sector, only account for around a third of the voestalpine product portfolio. The remaining two-thirds involves the processing of steel and other high-performance materials into components for sophisticated sectors such as the automotive, railway infrastructure, aviation, and mechanical engineering industries.
Since 2012 voestalpine has also consistently followed a strategy of internationalization, with the aim of strengthening its local presence in global growth markets including North America and Asia. Whereas at the time of the IPO the Group still generated 75% of its revenue within 500 km of its Austrian sites, today 90% of revenue is generated abroad, 21% of which already outside Europe. Construction of a direct reduction plant for the manufacture of HBI (hot briquetted iron) in Corpus Christi, Texas, a EUR 550 million project, is another example of the Group’s drive to internationalize, as is construction of a series of automotive parts plants in China and the USA.