On Thursday, Austrian steelmaker Voestalpine announced global investment plans. The company said that existing facilities are being expanded and new plants are being erected on four continents. All of these sites are/will be in close proximity to the production facilities of well-known premium manufacturers. The already existing global presence in other business sectors will be expanded to include the automotive sector of the Metal Forming Division. "We are following the automobile manufacturers, especially the European ones, to the markets of the future and will be expanding our presence there dramatically," stated CEO Wolfgang Eder.
Among those expansion plans is a US$62.3 million plant in the state of Georgia. The plant will be built in Cartersville, Georgia and production is slated to begin mid-2013; about 220 employees will work at the new facility. Voestalpine is also set plans for new facilities in China, South Africa, Romania and Germany.