The Management Board of Voestalpine AG (WBAG:VOE) is reacting to the changed economic conditions for industrial manufacturing companies and is reorganizing production sites in Germany. This step is a consistent implementation of voestalpine Group's strategy of focusing the materials business on the highest quality spectrum and expanding the downstream business in promising global segments. Buderus Edelstahl in Germany (High Performance Metals Division) Following the restructuring steps already taken in the past, the Management Board of voestalpine AG has decided to transfer the strategic process initiated to reposition Buderus Edelstahl into a sales process.

According to this, the division is concentrating its product portfolio on the high-tech segment of special materials and reducing the production share of tool steel and engineering steel in the standard grade area. The resulting optimization of the product portfolio strengthens the High Performance Metals division's competitive position. Business segment Automotive Components in Germany (Metal Forming Division): In Automotive Components, the management is maintaining its internationalization strategy, but is making targeted adjustments in response to the structural underutilization of capacity in the automotive supply industry in Germany.

The management has already responded by consolidating the production network, including the sale of the production site in Nagold, Germany. Against this backdrop, the Metal Forming Division is reorganizing its Automotive Components business in Germany and has adjusted its planning assumptions accordingly. This resulted in impairment losses of around EUR 70 million.