Voestalpine: No Investments in Europe

People ♦ Published: October 12, 2012; 19:04 ♦ (Vindobona)

Wolfgang Eder, CEO of the Austrian steel company expects that Europe faces a longer phase of stagnation. The steel industry will not recover before mid-2013.

Voestalpine: No Investments in Europe / Picture: © Flickr / Worldsteel

Eder thinks that the steel industry will take about five to six years in order to reach the growth rates which were achieved before 2008. In the next nine months, there will be no recovery, he says.

The biggest problem in the European steel industry would be the persistent overcapacity, which is due to the lower steel demand. The construction and the automotive industry, which…