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voestalpine R&D Budgets EUR 184 Million for 2019/20

Steel News - Published on Wed, 09 Oct 2019

Image Source: voestalpine
Permanent innovation is essential if voestalpine is to succeed in international and technologically sophisticated markets. The technology group has continuously expanded its research budget over the past decade, raising it by a total of 70 percent. Its current budget of EUR 184 million makes voestalpine one of Austria’s most research-intensive companies. Development focuses on the drive to digitalize the entire value chain, as well as on innovations for the mobility industry and CO2 reductions in steel production. voestalpine employs more than 700 researchers at 70 Group companies around the world and has secured over 3,000 proprietary patents.

Herbert Eibensteiner, Chairman of the Management Board of voestalpine AG, said “As a result of its intensive research and development activities over the past years, voestalpine has established itself as a leading technology supplier to the automotive, railway infrastructure, aerospace, energy, toolmaking, and consumer goods industries.

EibensteinerThe current research budget of 184 million euros, representing an increase of around 8 percent over the previous year, once again highlights the priority placed on innovation at the voestalpine Group. Even in economically challenging times, we will continue to consistently invest in developing new products and processes, because we can only safeguard our position as a global player in the most sophisticated product segments through specialization and quality.”

Around 100 national and international partners, including universities, universities of applied science, research institutes, and competence centers, constitute the voestalpine scientific network. The Group also intensively engages in development of partnerships with its key customers.

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Posted By : Ratan Singh on Wed, 09 Oct 2019
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