Voestalpine Totally Explained

Everything about Voestalpine totally explained

voestalpine AG is an international steel company based in Linz, Austria. The company is active in steel, automotive, railway systems, profilform and Tool Steel industries.
   Sixty per cent of its employment is in Austria. In addition to Linz the most important plants are in Leoben in Styria and in Krems in Lower Austria. It had a large plant at Liezen in Styria which closed in the 1990s.
   In 1941, the voestalpine was founded as Eisenwerke Oberdonau (Ironworks of Upper Austria), a core component of the Reichswerke Hermann Göring AG cartel, serving as the main supplier of steel and iron for the German war industry during World War II. Following the war, it was nationalized by the Austrian government, primarily to prevent its confiscation by the occupying Allies, allowing the company to be controlled by powerful political interests. In 1952 voestalpine developed the LD process, the first basic oxygen steelmaking process.
   From 1985 until 1995, steps were taken towards privatizing the corporation. Finally, in 2003, the name was changed to voestalpine AG in order to fit the standard naming pattern of Austrian public corporations.
   In April 2007, voestalpine made a bid for the Austrian Tool Steel producer Böhler-Uddeholm. The bid was accepted by a majority of shareholders in June.

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