Voestalpine Takes Flight While Being Aware of Bumpy Landing

Industrials - Aero/Defense 183 Materials - Metals/Mining 659 Tariffs 1696 U.S. 4830

Voestalpine is “preparing for a much worse economy” according to the steelmaker’s CEO, Wolfgang Eder. The firm has previously identified U.S. tariffs as a risk to revenues. Those tariffs have had the effect of trimming Voestalpine’s U.S. seaborne imports of section 232-related steel and aluminum products by 0.8% year over year in 1Q 2019. The decline could have been worse without the tariff exemptions the firm has won. The company has also successfully grown its other businesses in the U.S., as shown by a 25.9% surge in all its imports. That’s been led by a four-fold increase in aerospac...

Copyright © 2021 Panjiva Supply Chain Intelligence, a product offering from S&P Global Market Intelligence Inc. All rights reserved.