Austrian steelmaker Voestalpine AG has announced that its steel division is divesting its Voestalpine Camtec business in Linz, which produces cam units and sliding elements to be used in the automotive and mechanical engineering industries. The company stated that it will gradually discontinue the activities at Camtec by the end of the financial year 2025-26 (ending March 31, 2026).
The decision was made due to increased costs for energy and labor and the unit’s lower competitiveness in the face of suppliers from other countries, mainly China. Furthermore, the weak demand in the European machinery and toolmaking industry is also having a negative economic impact on Voestalpine Camtec.
The company also noted that a total of 53 employees affected by the discontinuation of Camtec’s activities will be offered employment at the company’s other business units in Linz.