March 9, 2018 / 12:01 PM / a year ago

Steelmaker Voestalpine may pause U.S. investments: CEO

FILE PHOTO: Austrian specialty steelmaker Voestalpine Chief Executive Wolfgang Eder addresses a news conference in Vienna, Austria, November 8, 2017. REUTERS/Heinz-Peter Bader

VIENNA (Reuters) - Austrian steelmaker Voestalpine will monitor the effects of new U.S. tariffs on steel and aluminum 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.

“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 ($1.23 billion) 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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