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Reaction of voestalpine AG to the press release by Deutsche Bahn regarding the German rail cartel

2013-04-29 | 

Dr. Wolfgang Eder, Chairman of the Management Board and CEO of voestalpine AG, made the following statement regarding the agreement with Deutsche Bahn: “We are very pleased that, after very intense negotiations, agreement with Deutsche Bahn has been reached. We anticipate that the foundation for a continuing long-term, stable collaboration has now been restored.”

Peter Felsbach, Spokesman, voestalpine AG: “We can confirm that agreement with Deutsche Bahn regarding direct deliveries of rails to DB has been reached. This is the second major step in the settlement of the rail cartel matter; the associated investigative proceeding by the German Federal Cartel Office largely confirmed voestalpine's status of cooperating witness and was concluded with the official notice of the fine in July 2012. Our understanding is that the initial – and major – part of the antitrust proceedings and the claims for compensatory damages have now been concluded as far as voestalpine is concerned and that we can return to a normal business relationship with Deutsche Bahn. We have agreed that the content and all the details of our agreement shall remain confidential. Our agreement with DB regarding claims for damages is within the limits of the provisions set aside for these claims. We are assuming that the provisions formed in 2012 in the amount of EUR 205 million will continue to be sufficient. This amount also contains the provisions for the closure of the rail rolling mill in Duisburg.”

Peter Felsbach, Spokesman voestalpine AG

The portion of the proceedings before the German Federal Cartel Office that is relative to the private market, which includes, but is not limited, to deliveries to mass transit and municipal services, is still unresolved. We anticipate that this portion of the proceedings can be concluded in the course of this year as well.

Peter Felsbach, Spokesman voestalpine AG

The voestalpine Group

The voestalpine Group is a globally active steel, processing, and technology Group, which produces, processes, and further develops high-quality steel products. The Group is represented by 360 production and sales companies in more than 60 countries on five continents and has been listed on the Vienna Stock Exchange since 1995. With its highest quality flat steel products, the Group is one of Europe’s leading partners to the automotive, white goods, and energy industries as well as of the oil and gas industries worldwide. Furthermore, the voestalpine Group is the world market leader in turnout technology, tool steel, and special sections. In the business year 2011/12, the voestalpine Group generated revenue of more than EUR 12 billion and an operating result (EBIT) of EUR 704 million; the Group has around 46,500 employees worldwide.