Wednesday, October 10, 2007

Voestalpine says synergy effect of Boehler-Uddeholm takeover at least 81 mln eur

Austrian steel producer Voestalpine AG said that its purchase of a controlling stake in Boehler-Uddeholm AG has already resulted in cost savings of more than 81 mln eur, well above the 65 mln eur it had originally targeted for the current year.

At a steel industry meeting in Berlin, Voestalpine chief executive Wolfgang Eder said that he believes his company can achieve 'several more million euros' in cost savings, the Austrian business website Boerse Express reports citing newswire agencies.

Voestalpine currently holds a 79.2 pct stake in Boehler-Uddeholm.


Link to original story

Technorati Tags: ,

No comments: