Voestalpine AG history, profile and corporate video
Voestalpine AG engages in the production, processing, and distribution of steel products. It operates through the following segments: Steel, Special Steel, Metal Engineering, Metal Forming and Other. The Steel segment focuses on the production and processing of flat steel products for the automotive, white goods, and construction industries. The Special Steel segment manufactures long steel products, medium-wide strip steel, open-die forgings, and drop forgings. The Metal Engineering segment manufactures rails and turnout products, rod wire, drawn wire, prestressing steel, seamless tubes, welding filler materials, and semi-finished products. The Metal Forming segment provides special tubes and sections, special strip steel, and complex components for the automotive industry. The Other segment provides coordination services and assistance to the subsidiaries. The company was founded on May 13, 1938 and is headquartered in Linz, Austria.“
From 2002 up to the Present
voestalpine AG from 2002 up to the Present. The dominant developments of this period were the “Linz 2010” investment program, the full privatization of voestalpine and the issue of a convertible bond for the remaining 15% of government-owned shares in 2003 – after the conversion of the last bond on August 31, 2005 voestalpine was then fully in private ownership – and the acquisition of the BÖHLER-UDDEHOLM Group in 2007/08 as well as a unique economic success story, but in 2009/10, due to the big economic crisis, also the toughest and most difficult business year in decades. However, during the first nine months of the business year 2010/2011 voestalpine Group was again able to achieve a very significant growth in turnover and results compared to the previous year.
Restructuring of the Group. From VOEST-ALPINE STAHL AG to voestalpine AG. The privatization of VOEST-ALPINE STAHL AG began in October 1995 with the sale of 31.7 percent of the Republic of Austria’s shares on the stock exchange. The product portfolio of the Group was further enhanced through an extensive expansion program. In 2001 the corporate structure was altered. A breakdown into the divisions of Steel, motion (from 2005 onward Automotive), Railway Systems and Profilform reflected a clear orientation towards processing (“More out of steel”). This encompasses the conviction that the value chain should also be very significantly extended (High-Tech-company and market niche provider). At the same time, the name of the Group was changed to voestalpine AG and from this time onwards follows an umbrella brand strategy under the brand voestalpine.
VOEST-ALPINE STAHL AG up to the Beginning of Privatization. Against the backdrop of an ongoing crisis in the steel market VOEST-ALPINE STAHL AG, as the managing holding company, was broken down into three divisions and in order to optimize the portfolio business segments were divested. The year of 1995 was dominated by the transition of VOEST-ALPINE STAHL AG from a nationalized company to a listed one.
VOEST-ALPINE AG up to the Breakup of Austrian Industries. The conglomerate was broken up. In 1988 the VOEST-ALPINE STAHL AG emerged in the course of restructuring. In 1990 Austrian Industries AG was established and organization was again changed. At the end of 1993, in the context of the Privatization Act, three groups were created from Austrian Industries AG: VA Technologie AG, die Böhler-Uddeholm AG und die VOEST-ALPINE STAHL AG.
VOEST-ALPINE AG up to the Reform of ÖIAG. The effects of the merger coincided with the international economic crisis. From 1975 the repercussions of the crisis also reached Austria. A new from of organization was instituted and a comprehensive diversification strategy was initiated. A crisis had been brewing in the nationalized industries for some time. The situation finally came to a head in 1985 – the then nationalized conglomerate was bankrupt.
VÖEST up to the Merger with Österreichisch-Alpine Montangesellschaft. The dominant developments of this period were the reorganization of VÖEST, a special investment program and the merger between VÖEST and ÖAMG into VÖEST-ALPINE AG.
VÖEST up to the Beginning of the Formation of the Group. The public management of VÖEST was replaced by customary organizational bodies and the investment activities were primarily geared to the modernization and streamlining of the production lines.
VÖEST up to the Austrian State Treaty. The success story of VÖEST began with the managing of the post-war chaos and the reconstruction. An important step was the development of the LD process. After a long period of preliminary work in Austria and other countries, scientists in Linz made the breakthrough. From 1952 the LD process revolutionized steel production.
The Linz Site of Reichswerke AG “Hermann Göring” Berlin. Beginning with 1938 an iron and steelworks was established in Linz as part of the national-socialist war industry. From 1941 onward the complex of companies in Linz successively began production. Thousands of foreign workers (foreign civilian workers, forced laborers, prisoners of war and concentration camp prisoners) were used to build the plants and to produce armaments.”
*Information from Forbes.com and Voestalpine.com
**Video published on YouTube by “voestalpine AG“