March 9, 2018 / 11:59 AM / 3 months ago

Steelmaker Voestalpine may pause U.S. investments - CEO

VIENNA (Reuters) - Austrian steelmaker Voestalpine will monitor the effects of new U.S. tariffs on steel and aluminium imports and may not invest further in the United States until it has a clear picture of the situation, its chief executive said on Friday.

FILE PHOTO - The logo of Austrian specialty steelmaker Voestalpine is seen in front of the company's premises in Linz, Austria August 24, 2017. REUTERS/Heinz-Peter Bader

“The United States remains attractive but it could be that there is a certain pause in our investment activity until the political conditions are calculable,” Wolfgang Eder told ORF radio, without specifying what those investment were.

Voestalpine operates 47 sites with an annual revenue of nearly one billion euros (890.47 million pounds)in the United States. It opened a $1 billion sponge-iron plant in Texas in late 2016.

Only a maximum of about 3 percent of current Voestalpine group sales could be affected by the U.S. tariffs, the group said earlier on Friday.

Reporting by Kirsti Knolle

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