Voestalpine will invest over EUR100m in new plants in China, US, South Africa, Romania, and Germany for the next several years.
The company said that the investment is part of a globalization strategy in the automotive sector.
voestalpine will build a new EUR50m production facility in Cartersville, US which is scheduled to start production by the middle of 2013.
At present, voestalpine is expanding existing production sites or new plants being built on four continents.
The company said that already existing global presence in other business sectors will be expanded to include the automotive sector of the Metal Forming Division.
voestalpine CEO Wolfgang Eder said that the company is following the automobile manufacturers, especially the European ones, to the markets of the future and will be expanding its presence there.
"Using new materials, we have been able to manufacture components, which have absolutely unique selling points on the global market," Eder said.
