voestalpine increases research budget to a record high
voestalpine Group is spending more money than ever on the continued expansion of its research and technology development. According to the budget that was approved yesterday, Thursday, by the Supervisory Board of voestalpine AG for the business year 2011/12, which begins on April 1, R&D funds will increase from EUR 111 million by another 10% to an new high of more than EUR 120 million. This increase is based on higher budget volumes in all five divisions of the Group, with the Special Steel Division showing the most substantial growth at about 25%.