Austria-based steelmaker voestalpine has set new growth targets for its higher-value-added processing businesses, aiming to increase revenue from its Railway Systems segment from around €2.2 billion currently to approximately €3 billion by the 2030-31 business year.
The company said its growth strategy will focus on technologically advanced businesses where it already holds strong market positions. In addition to railway infrastructure, voestalpine plans to expand its Aerospace, Warehouse & Rack Solutions, and Tubes & Sections operations.
Railway Systems to benefit from global infrastructure investment
According to voestalpine, increasing investment in the expansion and modernization of railway networks, the construction of new transport corridors and growing demand for digitalization are supporting the outlook for its Railway Systems business.
The company highlighted India as an important growth market, driven by investment in high-speed railway infrastructure, freight transport and urban mobility projects. Its Railway Systems business supplies rails and turnout systems as well as signaling solutions, digital applications and related services covering the lifecycle of railway infrastructure.
“Rising global investments in the expansion and modernization of rail networks, new transport corridors, and increasing demand for digitalization are opening up attractive prospects for voestalpine Railway Systems and creating significant and sustained demand for its high-quality products,” Herbert Eibensteiner, voestalpine CEO, stated.
