Voestalpine Increases R&D Expenditure
voestalpine said it is increasing R&D expenditure to a record level of € 132m for the 2012-13 business year just begun.
Despite economic crises and cost reduction programs, over the past decade expenditure in this key area has increased by 11% p.a. on average.
According to the company the record budget of € 132m once again represents a € 10m increase on the year before. "Specialization, technology and quality leadership have been and continue to create a solid basis for our future. Innovation, research and development therefore have top priority within the group. Every euro spent in this area is well spent," comments voestalpine-CEO Wolfgang Eder.
"It is only a matter of time before the high R&D investment makes a significant contribution to strengthening the group's leading market position in high-quality and margin-enhancing segments. The Linz-Donawitz process, a once-in-a-century invention, was the original basis for voestalpine's leading position in metallurgy and ensured that the group continued to be oriented to quality and technology. It is both a legacy and a challenge for subsequent generations."
In the years ahead the group will continue to maintain its clear strategic orientation to cutting-edge technology, superior quality products and an added value chain longer and more comprehensive than those of competitors. "The group will continue to push ahead in expanding R&D capacity, and in future will position itself even more clearly as a global driving force in technology, particularly in the areas of mobility and energy," says Eder.