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In recent months, voestalpine has been conducting an open-ended market sounding to stabilize the business model of its direct reduction plant in Corpus Christi, Texas. Since voestalpine only needs part of the hot briquetted iron (HBI) production capacities there for its own use, it has also examined the establishment of a strategic partnership in the form of an investment concept as one option in this context.

As a result of this examination, voestalpine is currently in negotiations to sell 80% of its shares in voestalpine Texas. Part of voestalpine's further participation is to be an agreement on the long-term securing of the HBI volume  required in the future for the first decarbonisation step at the sites in Linz and Donawitz. The negotiations are at an advanced stage. Depending on the outcome of the negotiations, a successful conclusion of the sales project may lead to an accounting profit, shown under discontinued operations, as well as a significant reduction in voestalpine's net financial debt. voestalpine Texas Holding is expected to be reported as a discontinued operation in the 2021/22 financial statements in accordance with IFRS 5. 

The voestalpine Group

voestalpine is a globally leading steel and technology group with a unique combination of materials and processing expertise. voestalpine, which operates globally, has around 500 Group companies and locations in more than 50 countries on all five continents. It has been listed on the Vienna Stock Exchange since 1995. With its premium products and system solutions, it is a leading partner to the automotive and consumer goods industries as well as the aerospace and oil & gas industries; it is also the world market leader in railway systems, tool steel, and special sections. voestalpine is fully committed to the global climate goals, and its greentec steel program represents a clear plan for decarbonizing the production of steel. In the business year 2020/21, the Group generated revenue of EUR 11.3 billion, with an operating result (EBITDA) of EUR 1.1 billion; it had about 48,700 employees worldwide.