Austria: Voest-Alpine announces financial reform

Article Abstract:

Franz Struzl, managing director of Voest-Alpine , announced preparations for a financial reform, including a recapitalisation in 2003 in order to finance investments and further buyings. The company is rreported to want concentrate its expansion on its automotive, railsystem and profile steel manufacture divisions, because of the higher added value of the automotive supply. Struzl also indicated interest in taking over existing plants. Of special interest to Voest-Alpine is the process of founding thin steel sheets of less than one millimetre, leaving out the foundry of slabs by directly rolling the melted steel. This process would reduce costs by 20% to 25%, according to Struzl. At present, Voest-Alpine has EUR 1.5bn in equity capital at its disposal. The Austrian state holding group, OIAG, holds 37.8% of Voest-Alpine's shares. A further 24% are held by an employee fund, by the insurance company Allianz and by two Austrian banks.

Strategy & planning, Voest Alpine AG

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AUSTRIA/JAPAN/US: VAE, YAMATO IN TALKS

Article Abstract:

Austrian VAE (formerly Voest-Alpine Eisenbahnsysteme), the world's largest railway points and railway systems manufacturer, is in talks with its Japanese competitor Yamato about cooperation. Reportedly the Austrian company is to take an about 20% stake in the railway points factory of Yamato, thus getting access to Asian markets. On the other hand, the Japanese company will acquire a stake in VAE's North American activities and get access to the company's distribution network there. The Austrian company has production plants in Vancouver, Canada, and Birmingham and Cheyenne, US. The North American factories of VAE and the Yamato mill both generate an annual turnover of just under Sch 1bn.

United States, Japan, Foreign operations, Joint ventures, Blast Furnaces & Steel Mills, VAE AG

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AUSTRIA: NEW STEEL GIRDER TECHNOLOGY BY ZEMAN

Article Abstract:

The Austrian company Zeman is to invest Sch 500mn in ten production plants throughout Europe for a new steel girder technology for building construction. Both the girders (so-called corrugated core beams) and the production technology were developed by the company. Zeman, which claims to be the biggest steel construction company in Austria, is looking for partners for the European projects. In 1999 the Zeman group made a pre-tax profit of Sch 65mn on a turnover of Sch 780mn.

Product information, Manufacturing processes

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