Voestalpine Closes TSTG Schienentechnik

IndustrialsIndustrial Goods ♦ Published: March 13, 2012; 23:20 ♦ (Vindobona)

The shutdown of German TSTG is due to a “lack in efficiency”. Because of the current cartel proceedings, the Austrian steel company has to build provisions of € 205m.

Voestalpine Closes TSTG Schienentechnik / Picture: © Vindobona.org

The Management Board of voestalpine AG decided today, Tuesday, to end production at its Duisberg subsidiary, TSTG Schienentechnik GmbH & Co KG (“TSTG”). The decision is based on the site’s inability to operate cost-effectively. It is no longer possible to produce rails competitively at the site over the long term. Closure will take place at the end of 2012 at the earliest.…