Voestalpine eyes high-end markets

Apr 23, 2014 | 01:39 PM | Thorsten Schier

Tags  Voestalpine, Wolfgang Eder, hot-briquetted iron, HBI, direct-reduced iron, DRI, Corpus Christi, Altos Hornos de Mexico Voestalphine Texas

NEW YORK — Voestalpine AG is looking to ramp up its North American presence following its €550-million ($759-million) investment in a 2-million-tonne-per-year hot-briquetted iron (HBI) and direct-reduced iron (DRI) facility in Corpus Christi, Texas, although the company is targeting high-margin end markets instead of commodity steel products for growth.

"We are not in the spot market, we are not producing steel commodities; it’s more advanced steel grades for the automotive and energy industries," Wolfgang Eder, chairman and chief executive officer of the Linz, Austria-based company, said during a conference call to commemorate the facility’s groundbreaking.....

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