voestalpine invests in Austria

After more than two years of planning, the final location decision was taken during the Supervisory Board meeting of voestalpine AG. This announcement represents an investment decision of EUR 330 -350M for the world’s advanced special steel plant in Kapfenberg, Austria, where it will replace the existing plant from 2021. This major investment by the High Performance Metals Division of the voestalpine Group marks a technological milestone in the manufacture of pioneering high-performance steels for the international aerospace, automotive, and oil & gas industries.

Work will begin on structural preparations right next to the current works premises for the EUR 330 to 350 million investment before the end of this year. The groundbreaking ceremony will be held in 2018, and after three years of construction the high-tech plant is scheduled to commence operations in 2021.

At the new plant it will be possible to fully automate the production of tool steels and special steels for the most sophisticated applications. They are the starting materials for processing into extremely high-load-bearing and weight-saving aircraft parts, robust tools for the automotive industry, equipment for the demanding conditions of oil and gas exploration, and for manufacturing components using 3D printing.

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