Austrian steel maker Voestalpine to finalize EUR 20 mln Romanian factory this summer

Austrian group Voestalpine will conclude work on its EUR 20 million steel parts factory in Giurgiu, Romania, this summer, a one year delay on the initially announced term. The factory will have an annual capacity of 130,000 tonnes of coil, which can be doubled if needed. Production will be delivered internally, as well as in Serbia, Bulgaria and Turkey. The factory, a project announced in 2007, received a EUR 5 million EU financing, as well as a 14 percent co-financing from the Romanian state. On some 9,500 sqm, the factory employs 50. In Romania, voestalpine controls rolling stock producer Vae Apcarom Buzău and British subsidiary Elmsteel, which runs a factory in Satu Mare. The Austrian group, which includes 360 companies producing and selling steel products worldwide, ended the 2011/2012 financial year with revenues of EUR 12 billion and an operational profit of EUR 704 million. editor@romania-insider.com (photo source: voestalpine)