Acquisitions & Divestments
In the 2024/25 financial year, the Metal Engineering Division expanded its welding technology product portfolio through two company acquisitions and further strengthened its market presence as a provider of system solutions for rail infrastructure in North America.
In the first half of the financial year, voestalpine Böhler Welding Group GmbH, Germany, acquired a majority stake in Italfil S.p.A., a leading Italian manufacturer of premium welding wire. As a full-service welding solutions provider, voestalpine Böhler Welding offers a unique portfolio of services, welding consumables, accessories and equipment. The Italian company Italfil, which employs around 110 people, contributed EUR 20.7 million to voestalpine Group’s revenues since its first-time consolidation on July 10th, 2024. This acquisition broadens voestalpine Böhler Welding’s product range, particularly in low and unalloyed solid wires for partially and fully automated high-quality welding applications, as well as for surface protection. It also represents another important step toward delivering fully integrated welding solutions. Supplying Italfil with high-quality wire rod from Donawitz, Austria, will further deepen the value chain.
In August 2024, voestalpine Railway Systems Nortrak LLC, USA, acquired the production facilities of Wabtec Components LLC in Knoxville, Tennessee, USA, through an asset deal. This follows its previous acquisition of assets for manufacturing high-quality concrete sleepers for the North American railway market. Around 75 people are employed at the Knoxville site, producing turnouts and track components. This acquisition strengthens the Railway Systems presence in the expanding North American railway infrastructure market.
In the business year 2024/25, the High Performance Metals Division focused on consolidation measures. Following earlier restructuring steps, the Management Board of voestalpine AG decided in March 2024 to initiate the process of selling Buderus Edelstahl, based in Wetzlar, Germany. In October 2024, negotiations were concluded with the signing of a contract to sell the business operation of Buderus Edelstahl. The transaction was completed at the end of January 2025 with the closing. With the sale of Buderus Edelstahl, the High Performance Metals Division is sharpening its focus on the technologically advanced segment of high-performance materials, while reducing the production share of tool steel and engineering steel within the standard segment, which has come under increasing price pressure due to growing competition from non-European competitors. As a consequence of the sale, there was an impairment requirement of EUR 83 million in the 2024/25 financial year.