EANS-Adhoc: voestalpine AG /Management Board of voestalpine AG agrees reserves
of EUR 205 million in the rails segment
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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.
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Plant Closings
13.03.2012
Today, Tuesday, the Management Board of voestalpine AG agreed to set aside EUR
205 million in reserves to cover any risks relating to the antitrust proceedings
relative to rails deliveries in Germany, as well as the planned closure of TSTG
Schienentechnik GmbH & Co KG ("TSTG"), part of the voestalpine Group. The
reserve will be reflected in the annual financial report as of March 31, 2012.
From today´s perspective, this reserve will cover all costs related to the
closure of rail production in Duisburg, as well as all risks associated with the
antitrust proceedings.
TSTG is being closed as a consequence of the site´s lack of economic viability
which makes it impossible to sustain competitive production of rails. Closure is
subject to the participation and co-determination rights of the employee
representatives and will be effected by the end of 2012 at the earliest.
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
end of announcement euro adhoc
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issuer: voestalpine AG
voestalpine-Straße 1
A-4020 Linz
phone: +43 50304/15-9949
FAX: +43 50304/55-5581
mail: IR@voestalpine.com
WWW: www.voestalpine.com
sector: Metal Goods & Engineering
ISIN: AT0000937503
indexes: WBI, ATX Prime, ATX
stockmarkets: official market: Wien
language: English