It is reported that Austrian integrated steel maker Voestalpine planned to upgrade its special steel business in Europe, US and China with the acquisition of coating facilities and processing units.
However, the company has announced to acquire nine companies included six in Germany, two in Switzerland and one in the US so far. Meanwhile, the company is expecting the annual revenue about €50 million from these nine companies.
In the meantime, Voestalpine is also planning to increase revenues from its special steel division from €3 billion to €5 billion by 2020 especially for mobility and energy markets.
In addition, the company’s special steel division will be able to produce special steels including tool and high-speed steel, as well as special forgings respectively.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=63491&division=A9
