Austrian steelmaker voestalpine AG has announced that it will invest over €40 million in a new high-tech, high-speed forging line at its subsidiary Böhler Edelstahl GmbH & Co KG in Kapfenberg, a subsidiary of the company’s Special Steel Division, in order to further expand its position in the growing aerospace segment. The new facility is scheduled to go into operation as early as in 2018, and will primarily be used to manufacture forgings as pre-materials for extremely high load-bearing aircraft components, such as engine parts, or forged components for oil and gas exploration which are required to withstand extreme conditions both on land and at sea.
Voestalpine stated that it also plans to invest in a new special steel plant as a means of opening up new dimensions in materials production. A final decision on the location of the special steel plant is expected for the second half of 2017.