voestalpine Announces Fourth Group Division
03/29/2012 - The voestalpine AG Supervisory Board unanimously agreed to adopt the resolution on the new Group structure. The Automotive Division and Profilform Division will be amalgamated to create the Metal Forming Division, which will be headed by Herbert Eibensteiner.
The voestalpine AG Supervisory Board unanimously agreed to adopt the resolution on the new Group structure. The Automotive Division and Profilform Division will be amalgamated to create the Metal Forming Division. The new division will be headed by Herbert Eibensteiner, who was appointed as a member of the Management Board at the previous Supervisory Board meeting.
With the resolution, the final preconditions for the new division’s successful start on April 1, 2012, the beginning of the voestalpine Group’s 2012/13 business year, have been met. As a result, the Group’s competencies will be concentrated into four similarly sized divisions.
“Over the next two years we will be growing new automotive activities in China, the USA and South Africa, thanks to orders from renowned automobile manufacturers. We are currently involved in a wide range of talks and have already succeeded in landing a major long-term contract in January,” said Eibensteiner.
During the 2012/11 business year, the new division would have recorded joint revenue of around EUR 2.2 billion, and its EBIT margin would have been 8.4%. The headquarters of the Metal Forming Division is in Krems, and the division starts with over 10,000 employees worldwide. The management positions have been filled from within the company’s own ranks.
The new division is organized into five business segments: Tubes & Sections is a worldwide leading manufacturer of tubes, profiles and steel precision tube products. Automotive Body Parts is a direct supplier of body panels to the automotive industry. Cold-rolled stainless steel strips remain grouped together under Precision Strip, and product solutions in the high-bay racking systems and storage rack segment under Material Handling. Flamco produces components for heating and water installations with a market focused on the Benelux countries.
In the coming years, the Group plans to expand its research and development capacities, and position itself even more clearly as a global technology leader in high-quality growth segments, especially mobility and energy.
voestalpine is a globally active group with a variety of specialized and flexible companies that produce, process, and further develop high-quality steel products. The group is represented by 360 production and sales companies in more than 60 countries on five continents. With its highest-quality flat steel products, voestalpine is one of Europe's leading partners to the automotive, white goods, and energy industries. It is also a leader in turnout technology, tool steel, and special sections, as well as number one in Europe in the production of rails.
