Austrian voestalpine AG to build Steel Service Center in Romania

Pharma

The steel company plans to build €18 million ($25.5 million) service center in Romania in the first quarter of 2008.

A booming construction industry and accelerated expansion plans by the automotive and the automotive supply industry in south-eastern Europe, in particular in Romania, are resulting in demand for steel that is growing by leaps and bounds. The voestalpine Group is therefore continuing to expand its presence in this growth region says the company web-site. After this year’s opening of the new Steel Service Center (SSC) in Poland, voestalpine is now building another SSC in Romania. “We have always emphasized that ‘our China’ is in Eastern Europe, so to speak, right outside our door. We see the greatest long-term growth opportunities in this region,“ says Wolfgang Eder, CEO of voestalpine AG. “In the Romanian town of Giurgiu, about 60 km south of Bucharest, we have found a location, which is directly on the Danube and therefore a logistically ideal site that can be reached cost-effectively from Linz.”

Construction of this production site, which will be voestalpine’s fourth location in Romania, will begin in 2008; the planned investment will be about €18 million. Production, primarily the high-precision cutting of sheet metal exactly according to customer specifications, should begin in the first half of 2009. Because demand continues to grow strongly, additional SSC locations in Turkey and the Ukraine could follow in the medium term. (voestalpine.com)

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