Austrian steelmaker voestalpine AG has announced that it will invest more than $60 million in two North American sites to be able to fulfill a new $500 million order from a German premium automotive manufacturer. In this context, voestalpine’s automotive component plant in Cartersville, Georgia, opened in 2014, is already entering its third expansion stage, and voestalpine is also investing in a new site in Birmingham, Alabama.
The company stated that with these investments it will create a total of over 400 jobs at these two locations by 2020 and it also plans to increase its revenue in the NAFTA region from the present €1.2 billion ($1.35 billion) to €3 billion ($3.38 billion) by 2020.