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voestalpine Postpones Decision on New Black Sea Steel Plant
10/20/2008 - Ongoing difficulties in the financial markets prompt the voestalpine Group to postpone its decision on a new greenfeld flat products steel plant it had been evaluating in the Black Sea region.
Ongoing difficulties in the financial markets have prompted the voestalpine Group to postpone its decision on a greenfeld investment that it had been evaluating for a new flat products steel plant in the Black Sea region.
The Group has been investigating the potential for growth in the Black Sea region since the summer of 2007. Its decision for this expansion project, which was initially planned for December 2008, has now been postponed to the year 2009.
The Group noted that the European Parliament’s decisions on the proposed climate protection rules, which are “very critical for the industrial base in Europe,” also make it difficult to justify a near-term decision on the investment.
The Group also noted that preliminary work for the decision continues unchanged.
