voestalpine : expands its presence in the NAFTA region in automotive safety components sector

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The voestalpine Group continues to drive its activities in the NAFTA region. As part of these efforts, just last week the Metal Forming Division’s voestalpine Rotec GmbH acquired Summo Corp., headquartered in Burlington, Canada. Summo is regarded as a state-of-the-art manufacturer of high-quality tube components for the automotive industry, which is an outstanding addition to the high-quality voestalpine product portfolio in the automotive safety components sector.

More than ever before, safety is a key issue in the automotive industry. This is one reason why since the 1980s the voestalpine Group’s Metal Forming Division companies-in particular the voestalpine Rotec Group-have focused intensively on pioneering product solutions in the area of passive safety. The portfolio of the Canadian Summo Corp. (henceforth voestalpine Rotec Summo Corp) also includes premium-quality passive safety parts, such as components for airbags, seatbelt systems, and seating systems, in this product segment. Summo has a production site in Burlington, Canada, and another one in Monterrey, Mexico. The company most recently generated annual revenue of around EUR 40 million with a staff of around 300 employees. With its sophisticated product portfolio, Summo is an important supplier to the North American automotive supply industries.

‘Safety will continue to enjoy utmost priority in automotive construction in the future. For voestalpine this acquisition chiefly represents a strengthening of the product portfolio and greater market share for passive safety and comfort applications in the NAFTA region.’

Peter Schwab, Member of the Management Board of voestalpine AG and Head of the Metal Forming Division

The voestalpine Rotec Group is active globally and was already present in North America with a production site in Lafayette, Indiana (USA). Through the acquisition of Summo Corp. the company now has production sites in the USA, Canada, and Mexico-one in each country-making voestalpine a leading provider of passive safety parts in the entire NAFTA region.

The voestalpine Rotec Group based in Krieglach, Austria, with its 1,000 employees at eight production sites on three continents, produces high-quality precision steel tubes and complex tube components for the automotive and mechanical engineering industries. In the business year 2015/16, the group generated revenue of EUR 191 million. It is a key supplier of passive automotive safety components such as belt tensioners and airbag components. Its customers include the world’s largest automotive suppliers who use these parts in safety belt systems and all types of airbag and seating systems.

The Metal Forming Division of the voestalpine Group achieved a total sales volume during 2015/16 of EUR 2.2 billion and an operating result (EBITDA) of EUR 290 million. The division employs roughly 10,500 staff members and does business with almost all European car manufacturers. Within the Group, it constitutes the center of competence for highly refined sections, tubes and precision steel strip products and ready-to-install components made of pressed, stamped and roll-formed parts. Its combination of material expertise and processing competence, which is unparalleled throughout the industry, and its global presence make the division the preferred partner to customers who are looking for innovation and quality.

The voestalpine Group

In its business segments, voestalpine is a globally leading technology and capital goods group with a unique combination of material and processing expertise. voestalpine, which operates globally, has around 500 Group companies and locations in more than 50 countries on all five continents. It has been listed on the Vienna Stock Exchange since 1995. With its top-quality products and system solutions using steel and other metals, it is one of the leading partners to the automotive and consumer goods industries in Europe and to the oil and gas industries worldwide. The voestalpine Group is also the world market leader in turnout technology, special rails, tool steel, and special sections. In the business year 2015/16, the Group generated revenue of EUR 11.1 billion, with an operating result (EBITDA) of EUR 1.6 billion; it has 48,500 employees worldwide, who are collectively a major shareholder in the company with a stake of 14.5 percent.

voestalpine AG published this content on 20 July 2016 and is solely responsible for the information contained herein.

Distributed by Public, unedited and unaltered, on 21 July 2016 07:33:01 UTC.

Original document http://www.voestalpine.com/group/en/press/press-releases/2016-07-21-voestalpine-expands-its-presence-in-the-nafta-region-in-automotive-safety-components-sector.html

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