The largest metallurgical company in Austria will allocate 185 million euros for research activities
The metallurgical company Voestalpine is not only the largest steel company, but also one of the most knowledge-intensive companies in Austria, with more than 700 employees in research centers.
According to the company's press office on Monday, the group will continue this trend in the 2021/22 financial year with a research budget of € 185 million. In the last reporting period, the annual expenditure on research amounted to 153 million euros.
Voestalpine's innovative products include steel products such as rails with an extremely wear-resistant surface, which are successfully used all over the world. The group has developed ultra-high-strength steels with excellent formability for lightweight vehicle structures, one of the benefits of which is reduced fuel consumption.
Another example is additive manufacturing, a resource-efficient and innovative technology that is ideal for manufacturing complex geometries without wasting material. It is used in areas such as highly sophisticated temperature control and lightweight construction solutions, in instrument manufacturing for the automotive and consumer goods industries, and medical technology applications.
The company stressed that thanks to research activities, over the past three decades, Voestalpine has been able to reduce CO2 emissions by about 20 percent.