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voestalpine statement: status of exemptions from punitive US tariffs

2018-10-09 | 

Over the past days voestalpine has been able to secure an important partial victory with respect to the punitive US tariffs of 25 percent imposed on steel products which came into effect in June. Of a total of 4,300 applications for product tariff exemptions submitted by our Group and our customers, we have currently received replies from the US administration to 2,640 of them. Roughly 2,360 of these replies were positive, while 280 were negative. This is a further significant reduction in the economic risk that these tariffs represent to voestalpine—at maximum around three percent of Group revenue is directly affected.

Eder

In view of this current status, we are optimistic that we will also receive overwhelmingly positive replies to the outstanding applications. In terms of free trade, we welcome the agreement on a new trade treaty which has finally been reached between the USA, Canada, and Mexico, as this is an important precondition for securing economic stability in this region as well as for normalizing trade relationships.

Wolfgang Eder, Chairman of the Management Board of voestalpine AG

voestalpine in the USA

voestalpine activities in the USA contribute significantly to regional value creation, as well as creating and securing jobs at a total of 48 locations. The Group has specifically invested USD 1.4 billion in the production of high-tech products in the USA in recent years, resulting in around 3,000 highly skilled local jobs which make a sustained and positive impact. voestalpine generates around two thirds of its US revenue of around EUR 1.3 billion (BY 2017/18) as a local manufacturer in the USA.

El Grupo voestalpine

voestalpine es, en sus áreas de negocio, líder mundial en la fabricación de productos industriales y tecnológicos, con competencia combinada en cuanto a materiales de trabajo y procesamiento. El grupo de empresas, que opera en todo el mundo, cuenta con alrededor de 500 sociedades y emplazamientos en más de 50 países en los cinco continentes. Cotiza en la Bolsa de Viena desde 1995. Con sus soluciones de productos y sistemas de máxima calidad de acero y otros metales, es uno de los socios de negocio más importantes de las industrias europeas del automóvil y de electrodomésticos, así como de la industria aeronáutica, de gas y petróleo en todo el mundo. voestalpine es, además, líder mundial en el mercado de la tecnología de desvíos y en el área de carriles especiales, así como en el del acero para herramientas y perfiles especiales. En el ejercicio 2017/18 el Grupo obtuvo, con un volumen de ventas de alrededor de 13.000 millones de euros, un beneficio operativo (EBITDA) de casi 2.000 millones de euros y contó con una plantilla de unas 51.600 personas en todo el mundo.