EANS-Adhoc: voestalpine AG
voestalpine abandons short working hours at Linz
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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
Company Information
28.08.2009
After orders declined by nearly 50 percent in the first half of 2009 as a consequence of the global financial crisis, demand for high-quality flat steel products in Europe has rebounded significantly since the beginning of the summer. The considerably higher level of utilization associated with that rebound and the further improvement of capacity utilisation for the coming months already becoming apparent at voestalpine Group´s Steel Division means that the Group is able to phase out short working hours at its Linz plant, effective by August 31, 2009.
Most recently, 3,470 employees of a total of 9,780 workers at the Steel Division were on short working hours. At other Group locations, 2,384 employees in Austria and 3,123 employees located abroad will continue to be on short working hours as of September 1.
However, the fact that short working hours are being abandoned for now at the largest voestalpine Group location should not be understood as an indication that a sustained upturn in the economy is assured. The risk of another economic slump over the course of 2010 still seems to be given.
Further details as to the publication is available on www.voestalpine.com or please contact the Investor Relations Team of voestalpine AG under +43/50304/15-9949 for any further details.
end of announcement euro adhoc
Further inquiry note:
DI Peter Fleischer
Head of Investor Relations
Tel.: +43/50304/15-9949
Fax: +43/50304/55-5581
mailto:peter.fleischer@voestalpine.com
http://www.voestalpine.com
Branche: Metal Goods & Engineering
ISIN: AT0000937503
WKN: 897200
Index: WBI, ATX Prime, ATX
Börsen: Wien / official market