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Steel Industry
Voestalpine in the Midst of an Accounting Scandal and Weak Quarterly Results
Voestalpine AG, one of Europe's leading steel and technology groups, is currently facing a double crisis. In addition to a massive drop in profits in the first quarter of the business year 2024/25, the company is struggling with the consequences of an accounting scandal that spanned more than a decade and only became public in June 2024.
September 18, 2024
Congo’s Foreign Minister Visited Vienna
Austrian Foreign Minister Alexander Schallenberg welcomed his Congolese counterpart Jean-Claude Gakosso to a meeting in Vienna. They discussed the economic relations between the two countries and Congo’s security issues.
March 16, 2023
Austrian Wholesale Prices: Largest Increase Since March 2011
In July 2021, wholesale prices saw their largest year-over-year increase since March 2011. The increases can be seen in the steel industry, gas industry, agricultural industry, and more. Read about which other industries the increases are affecting and just how significant the increases are.
August 6, 2021
Voestalpine: Short-time Work in 50 European Subsidiaries
The biggest economic challenge of the past decade represented by the coronavirus pandemic has hit the Austrian technology group Voestalpine hard. Short-time work in Austria and other European countries such as Germany, Belgium and France is unavoidable due to the slump in demand.
March 24, 2020
Strabag Consortium Builds € 300 Mln Eisack River Undercrossing for Brenner Base Tunnel
The construction group Strabag, in a consortium with the Italian construction companies Salini Impregilo, Consorzio Cooperative Costruzioni CCC and Collini Lavori, signed the € 300 million contract to build the Eisack Undercrossing section of the Brenner Base Tunnel.
October 24, 2014
Strabag Builds a Section of Polish A4 Motorway for € 85 Mln
A consortium consisting of Strabag Sp. z o.o. and Budimex S.A. has signed the contract to build a 41 km section of the A4 motorway from Rzeszów to Jarosław in south-eastern Poland. The gross contract has a value of about € 170 million. Strabag holds a 50 % share in the consortium. The construction time is estimated to take 14 months.
September 18, 2014
Strabag to Build Koscierzyna Bypass in Poland for EUR 40 Mln
A consortium of Strabag Poland and its subsidiary Heilit+Woerner has been awarded the design-and-build contract for a 7.6 km bypass around the city of Kościerzyna in northern Poland. The 7.6 km carriageway includes various civil engineering structures and environmental protection measures. The contract has a value of about € 40 million (PLN 165 million).
September 11, 2014
Buwog: The ATX of the Vienna Stock Exchange has a New Member
At today's meeting, the Index Committee has decided on changes in the composition of Austrian stock indices. All changes become effective as of 22 September 2014. In the Austrian leading index, ATX, Mayr-Melnhof Karton AG will be replaced by BUWOG AG.
September 2, 2014
Poland: Strabag to Construct S7 Section “Trasa Nowohucka” in Kraków Worth € 130 Million
A consortium comprising Strabag Sp. z o.o. and Heilit+Woerner Sp. z o.o, two subsidiaries of Austrian listed company Strabag SE, has signed a contract for the construction of a stretch of the planned S7 expressway in the east of Kraków, called “Trasa Nowohucka”, which will run between Rybitwy and Igołomska.
July 24, 2014
Strabag to Build Steel Plant in Russia for € 300 Million
Publicly listed construction group Strabag SE has been contracted by Russia’s Tula-Steel Company to build a steel production and rolling mill in Tula, some 200 km south of Moscow. The industrial complex will be constructed in close vicinity to Tulachermet’s existing iron mill. The contract value is € 300 million. Construction of the project will begin in autumn 2014 and is expected to be completed within 36 months. Also today, BWB the Austrian antitrust authority has approved the acquisition of a total of 25% in Strabag by Oleg Deripaska, the Russian oligarch.
July 14, 2014
Voestalpine Plans Further Acquisitions
In an interview with the Financial Times, Voestalpine CEO Wolfgang Eder confirms his ambition to grow through acquisitions and to double its revenue by acquiring suitable targets in the special steel division in China and North America.
June 16, 2014
Austria: Right-Winged Extreme Party Buoyed by Tailwind
The Austrian right-winged Freedom Party (FPÖ) is using the disappointment over the grand coalition’s inability to tackle major economic issues to its advantage.
May 21, 2014
voestalpine to Invest Further in China
Listed Austrian steel producer voestalpine opened another business location in China.
May 14, 2014
Pewag Striving for Larger Market Share in US
The Austrian snow chain manufacturer appreciates the label “Made in USA”.
May 6, 2014
“US Rolls Out Red Carpet for Austrian Industrial Enterprises”
Potential Austrian investors are attracted with many incentives such as low energy costs, few bureaucratical hurdles and excellent infrastructure.
May 5, 2014 · Updated: May 6, 2014; 13:25
Do Taxes Justify a Relocation of Business?
Tax sensitive business operations should be relocated to other areas if necessary, according to the head of Erste Bank Austria.
April 24, 2014
Eder: Policy-Makers Have to Make Decisions
Wolfgang Eder, CEO of Austrian steel manufacturer voestalpine, claims not to have heard anything from the Austrian policy makers after he raised criticizm with regard to the Austrian business location.
April 24, 2014
Austria: Calls for Reduction of Bureaucracy Become Louder
Bureaucratic hurdles burden the Austrian enterprises the most apart from taxes and other levies.
April 23, 2014
Eder: Austrian Industrial Location Not Attractive Anymore
Austria may lose one of its most important industrial flagships. Wolgang Eder, CEO of the Vienna-listed steel manufacturer voestalpine threatens to leave Austria.
April 18, 2014
Austria: Industrial Output Shrinks
In October the industrial production in Austria declined.
December 23, 2013
Analysis - Vienna Stock Exchange on a “Sustainable Upward Trend”
After five downhill years, the Vienna Stock Exchange is finally seeing something like a silver lining.
October 30, 2013 · Updated: November 5, 2013; 18:00
Voestalpine to Construct New Plants in China
The Austrian steel manufacturer will invest € 450m in new facilities and plans to triple revenues until 2020.
October 28, 2013
German Rail Manufacturing Plant of Voestalpine to be Closed
At the end of October voestalpine will shut down its rail manufacturing plant TSTG Schienen Technik GmbH & Co KG in Duisburg, Germany.
October 21, 2013
Austria: Voestalpine Expects Same Results as 2012
CEO Wolfgang Eder expects the same level in profits as last year.
October 17, 2013
Voestalpine Expects Turnaround
The European demand in steel is increasing. Austrian steel manufacturer voestalpine expects the worst of the crisis for the steel industry to be over.
October 7, 2013
Austria: Voestalpine Opens Rolling Mill
voestalpine opens state-of-the-art duo rolling mill at Böhler Bleche GmbH & Co KG in Mürzzuschlag
September 20, 2013
Austria: voestalpine Sells its Interest in VA Intertrading
The voestalpine Group announced today that over the next three years it will gradually sell its 38.5% interest in VA Intertrading to an investor.
September 13, 2013
Voestalpine: Cartel Proceedings Finally Settled
voestalpine AG response to the German Cartel Office's rail cartel announcement issued yesterday.
July 24, 2013
Construction of voestalpine plant in US by Siemens and Midrex
voestalpine entrusts construction of the direct reduction plant in Texas to Siemens and Midrex.
July 5, 2013
Eder Appeals for Reindustrialization in Europe
In an interview with Austrian daily „Kurier“, Wolfgang Eder, CEO of Austrian steel producer voestalpine talks about the future of the European steel industry and the differences to the US energy policy.
June 20, 2013
Siemens VAI Lands Major Contract in China
Tangshan orders cold rolling complex from Siemens.
June 18, 2013
EU Commission to Support Steel Industry
EU Commissioner for Industry Antonio Tajani has presented the annouced steel action plan.
June 12, 2013
Siemens VAI to Modernize Ukrainian Steel Plant
The signing of a major contract in Ukraine for Upper-Austrian industrial plant construction company Siemens VAI is in its final steps.
June 10, 2013
Voestalpine to Take Over Trafilerie di Cittadella S.p.a
Voestalpine extends its welding technologies product portfolio with an acquisition in Italy.
June 3, 2013
Voestalpine Intends to Boost Business in Germany
The Upper-Austrian steel manufacturer voestalpine wants to significantly increase its business in Germany.
May 23, 2013
Voestalpine Hopes for Participation in South Stream Project
CEO Eder announced the Austrian Steel Manufacturer was leading “intensive” talks with Russian energy company Gazprom.
May 16, 2013
EU Commission: Action Plan for Steel Industry in Europe
During his visit to Linz, EU Commissioner for Industry and Entrepreneurship Antonio Tajani announced measures for the steel industry in Europe.
May 7, 2013
Vienna: Infrastructure & Construction Summit Brings Together All Balkan Countries
Government ministers from Austria and various Balkan countries will be discussing infrastructure and construction in the region at a two-day summit in Vienna at the end of May.
April 30, 2013 · Sponsored Content
Voestalpine: Compensations for Deutsche Bahn
Deutsche Bahn (DB) is to receive compensations by Austrian steel manufacturer voestalpine.
April 29, 2013
Slovakia: US Steel to Keep Producing in Kosice
US Steel and the Slovak government have come to an agreement which allows the steel manufacturer to stay in Eastern Slovakia.
April 8, 2013
Eder: Future of Voestalpine and Steel Manufacturing Industry
In an interview CEO of voestalpine, Wolfgang Eder explains the current situation on the steel market and points out that mass products will come from CESEE countries in the future.
April 4, 2013
Voestalpine Constructs Direct Reduction Plant in Texas
The decision on the location of the Austrian steel group´s direct reduction plant in North America has been made.
March 13, 2013
Voestalpine´s Research Expenditures Have Tripled
Since 2000, voestalpine´s research expenses were up to € 132m. this corresponds to 1.1% of the total sales.
February 16, 2013
Voestalpine to Announce Decision on Expansion Into North America
The Austrian steel group plans a major investment in North America. According to voestalpine´s CEO Wolfgang Eder, the decision will be announced in February.
February 9, 2013
Voestalpine: CEO Eder Cautiously Optimistic
CEO Wolfgang Eder anticipates an economic recovery in the second half of 2013. Despite the difficult framework conditions, voestalpine´s management retains the earnings forecast.
February 7, 2013
Eder Reaffirms: „European Industrial Sector Is in Danger“
In an interview with the Austrian news magazine “Presse”, voestalpine´s CEO Wolfgang Eder criticizes the European industrial policy sharply.
January 21, 2013
Voestalpine Leaves Europe Step by Step
The Austrian steel company wants to reduce the dependence on Europe. Growth will take place elsewhere, CEO Wolfgang Eder says.
December 20, 2012
Voestalpine: „Growing by 50% Until 2020“
The Austrian steel group presents its strategy for the next years. The importance of conventional steel and Europe will decrease.
December 18, 2012
Voestalpine: Major Investments in U.S.
The Austrian steel company wants to build a steel plant for $ 1.0bn in the U.S.
December 17, 2012 · Updated: December 17, 2012; 14:53
Voestalpine Acquires Canadian Sturdell Industries
The Vienna-listed voestalpine Group continues to further expand its market position in North America by undertaking an acquisition in its special steel segment.
December 7, 2012
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