Voestalpine AG

A steel and capital goods company in Austria, Voestalpine AG was founded in 1938. Based in Linz, Voestalpine AG is one of the largest steel companies in Europe. In addition to its steel operations, the company is also very active in the automotive and railway industries. The name of the company is a combination of its two primary locations: VÖEST in Upper Austria and ÖAMG in Österreichische-Alpine Montangesellschaft. Traded as VOE.DE on the Vienna Stock Exchange, Voestalpine AG went public in 1995. Initial shares of VOE.DE stock were valued at €5.18 each. One of the primary reasons for the IPO was a government decision to privatise state-owned companies in Austria. These newly privatised companies would require an injection of funds to meet their objectives. Voestalpine AG operations are conducted by four divisions: Voestalpine Stahl, Voestalpine Railway Systems, Voestalpine Profilform, and Voestalpine Division Automotive. New acquisitions by the company are often absorbed into one of the divisions. One exception was the purchase of the steel producer Böhler-Uddehom for €2 billion. It is one of the largest acquisitions in Austrian industrial history. Find out more about Voestalpine AG on the eToro platform. Add VOE.DE stock to your watchlist.