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voestalpine Re-Streamlines Group Structure
12/20/2011 - The voestalpine AG Supervisory Board announced plans to implement changes to its structure and Management Board, including the merger of its Automotive and Profilform divisions to form a single division.
The voestalpine AG Supervisory Board announced plans to implement changes to its structure and Management Board targeting a more efficient Group structure.
As part of the restructuring, the Group will merge its Automotive and Profilform divisions to form a single division. Herbert Eibensteiner will take over as head of the new division, succeeding Wolfgang Spreitzer (head of the Profilform Division) and Franz Hirschmanner (head of the Automotive Division).
The organizational and personnel changes are to take effect as of the beginning of the business year 2012/13 (April 1, 2012). The detailed organization of the new division will be approved at the Supervisory Board’s next meeting, which is in late March 2012.
Following the realignment, voestalpine’s capabilites will no longer be divided among five divisions of very different size but will be bundled in four divisions of almost equal size. The Group noted that merging the two divisions will generate a number of synergy effects. For example, the two divisions have worked together closely in the past in research and development, thus making it possible to service important customer segments in a more coordinated way in the future, in particular, the automobile industry and the energy sector.
CEO Dr. Wolfgang Eder anticipates that the divisional merger will provide significant momentum for further growth in these particular sectors that have excellent future prospects. “The newly created division will be even more active on the global markets than before as we are now optimally equipped for this task. Furthermore, in Herbert Eibensteiner, we have been able to attract a manager who is experienced both within the Group and in international issues as the newest member of our Management Board who will be succeeding our colleagues Spreitzer and Hirschmanner who have provided such outstanding leadership.”
voestalpine is a globally active group with a number of specialized and flexible companies that produce, process and further develop high-quality steel products. The Group is represented by 360 production and sales companies in more than 60 countries.
voestalpine is one of Europe's leading partners to the automotive, white goods and energy industries, as well as a world market leader in turnout technology, tool steel and special sections, and number one in Europe in the production of rails. The voestalpine Group generated revenues of EUR 10.95 billion in the business year 2010/11 and employs around 40,000 staff throughout the world.
voestalpine is one of Europe's leading partners to the automotive, white goods and energy industries, as well as a world market leader in turnout technology, tool steel and special sections, and number one in Europe in the production of rails. The voestalpine Group generated revenues of EUR 10.95 billion in the business year 2010/11 and employs around 40,000 staff throughout the world.
