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Voestalpine is to invest €132 million ($173 million) in its research and development (R&D) programme this financial year, the European steelmaker said on Wednesday April 11.
The R&D budget, for April 1 2012-March 31 2013, represents a €10 million year-on-year increase, it said.
“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,” management board chairman Wolfgang Eder said.
Daniel Gleeson dgleeson@metalbulletin.com Twitter: @dangleeson_mb