voestalpine CEO: China Plant Construction Might Be Delayed
08/26/2015 - Austria's voestalpine might be hitting the pause button on plans to build a specialty steel mill in China, although it remains interested in expanding operations there, according to a Reuters interview with CEO Wolfgang Eder.
In October 2014, the company, in partnership with another, said it intended to start construction on a premium steel plant in China this year. Eder told the news service that the plant remains an option, but said it may come about later rather than sooner.
"We will take our time to assess how we will proceed from here," he said.
Despite the pause, China remains in the cards in terms of future investments, he said.
"Nothing has changed for us in terms of China's attractiveness in the long term," Eder said. He added that it was not "unrealistic" that voestalpine might build 10 more plants in China by 2020, Reuters reported.
"We will take our time to assess how we will proceed from here," he said.
Despite the pause, China remains in the cards in terms of future investments, he said.
"Nothing has changed for us in terms of China's attractiveness in the long term," Eder said. He added that it was not "unrealistic" that voestalpine might build 10 more plants in China by 2020, Reuters reported.
