The global steelmaking, technology, and industrial goods Group Voestalpine is continuing to expand its leadership in the global Special Steel segment.
The Special Steel Division, headed by Mr Franz Rotter, has acquired a majority stake in the Düsseldorf-based Eifeler Group, with annual revenues of around EUR 50M and 330 employees. The division has also acquired two companies in China, Rieckermann Steeltech in Shanghai, and PM Technology in Shenzehn, with around 100 employees. The Special Steel Division’s revenue target is EUR 5B by 2020.
It was only at the end of December that Voestalpine had defined its ambitious goals up to 2020. Important measures are already being undertaken across all four divisions to promote internationalization and acquire new companies.
A start has been made by Voestalpine’s Special Steel Division, currently active at 60 sites in 50 countries, which is continuing to strengthen its international presence by taking over nine companies belonging to the German coating specialist Eifeler, as well as two production and servicing sites belonging to the Rieckermann group in China.
With this move the Special Steel Division including tool steel, high speed steel, special steels, alloys and special forged components for the aviation industry, heavy vehicle construction and the energy sector, with its current staff of 12,400 employees, has laid the foundation for its target of increasing revenue from EUR 3B to over EUR 5B by 2020.
