Voestalpine plans to launch a new plant in Austria in March 2023

Austrian steel company Voestalpine plans to start a new special steel plant in Kapfenberg, Austria, by the end of March 2023. Eurometal reports about it.

The implementation of the project was delayed due to problems with the delivery of production equipment, in particular, due to the coronavirus pandemic. The company planned to start production in the 2022/2023 fiscal year.

The new production complex is to replace the existing plant in Kapfenberg. The enterprise will not need further modernization.

“Both plants will work alternately during the transition period until the new facilities reach full industrial production,” said Herbert Eibensteiner, CEO of Voestalpine.

The newly built plant is part of the High Performance Metal Division, formerly known as Böhler-Uddeholm. In the three quarters of the 2022/2023 financial year, the division increased its revenue by 29% y/y – up to $2.99 ​​billion.

As GMK Center reported earlier, in 2021/2022 financial year, Voestalpine increased revenue by 36.9% compared to the previous year – up to €14.9 billion. EBITDA for the year doubled compared to the previous year – up to €2.3 billion.

In the near future, the company plans to invest almost €100 million in the next few years in the expansion of hot-dip galvanizing lines at the plant in Linz. Investments will improve the quality of production of zinc-coated and uncoated cold-rolled strip products, as well as meet the future growing demand for high-quality products.