Global steel-based technology and capital goods group Voestalpine is pushing ahead with its strategy of 'internationalisation' with the opening of its new metal forming division at a site in East London, South Africa.
The plant in question produces high quality automotive components and forms part of Voestalpine Group's EUR100 million investment in South Africa – in addition to developments in China, the USA, Romania and Germany.
In fact, in addition to physical investment in production plants, the Austrian company has also set aside EUR140 million to bolster what it calls it's 'technological leadership'.
The new site in South Africa is located close to the sites of 'renowned automotive manufacturers', claims Voestalpine, adding that, during the plant's start-up phase, 30 employees will generate around EUR10 million in annual revenue.
Known as Stamptec South Africa the plant will produce 'highly complex' body-in-white parts such as press-hardened cross members and aluminium components for vehicle doors.
"By using new materials and forming processing we have succeeded in producing components that are absolutely unique in the global marketplace. With our strong focus on innovation, we are continuing to drive forward developments in processing, and this provides for the basis of our long-term globalisation strategy," said Herbert Eibensteiner, management board member of Voestalpine AG and head of the company's metal forming division.
The 'mobiliity sector' accounted for 44% of Voestalpine's EUR11.5 billion, most of whch was generated from the automotive sector.
In two months from now, a larger production site for high-strength body-in-white parts will open in Cartersville, Georgia, USA. It will employ 220 people and represent 'the new central basis' for Voestalpine's North American automotive activities.