History

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1991
The Austrian Böhler Group and Swedish Uddeholm Group merge to form the BÖHLER-UDDEHOLM Group, creating the world’s largest tool steel manufacturer with a dedicated sales network for specialty steel products. BÖHLER-UDDEHOLM AG, parent company of the Group, is founded in Austria on 10 May 1991. The beginnings of the production sites of Böhler and Uddeholm date back a number of centuries.

1992 – 1994
Following extensive reorganization, the Group completes a turnaround in 1994. Up to this point, BÖHLER-UDDEHOLM AG was a 100% subsidiary of Österreichische Industrieholding AG (ÖIAG, “Austrian State Holding Company“) which, in turn, is owned by the Republic of Austria.

1995
BÖHLER-UDDEHOLM AG is partially privatized and completes its initial public offering on the Vienna Stock Exchange. ÖIAG reduces its holding to 72.7%, and 27.3% of share capital is sold to international and Austrian investors.

1996
ÖIAG reduces its holding in BÖHLER-UDDEHOLM AG to a minority share of 25%. By this time, BÖHLER-UDDEHOLM has sold all non-core operations and now concentrates exclusively on four core businesses: High Performance Metals, Welding Consumables, Precision Strip and Special Forgings. The Welding Consumables Division is transferred to a joint venture with the ThyssenKrupp Group. 

1997 – 1999
After a consolidation phase, BÖHLER-UDDEHOLM begins to follow a growth strategy through directed acquisitions and investments. The Company acquires Martin Miller, an Austrian strip steel producer, and purchases the high-speed steel business of the US-based Allegheny Teledyne Group. In Kapfenberg, a new plant starts operations for the production of powder metallurgy steels.

2000 – 2002
Operations start at the new vacuum re-melting plant in Kapfenberg in 2000. The global economy is placed under additional pressure by the terrorist attacks of 11 September 2001 in the USA and the subsequent war in Afghanistan. A group of Austrian private investors acquires 25.1% of share capital and becomes the Company’s largest shareholder.

2003
In spring, BÖHLER-UDDEHOLM AG acquires 50% of Böhler Thyssen Schweisstechnik GmbH from the ThyssenKrupp Group and now owns 100% of the welding company. This acquisition significantly strengthens the Welding Consumables Division. ÖIAG sells its 25% stake in November, and BÖHLER-UDDEHOLM is now a fully privatized company.

2004
BÖHLER-UDDEHOLM records the best year since its founding, with sales and earnings reaching new highs. The Company is able to use the favorable economic development in nearly all core markets for further growth, and also benefits from the acquisition of Villares Metals S.A. (Brazil) in March. This specialty steel producer is the market leader in tool steel, high-speed steel and valve steel in South America and strengthens the High Performance Metals Division.

2005
BÖHLER-UDDEHOLM sets new records for sales, earnings and order intake. The acquisition of Edelstahlwerke Buderus AG (Germany) is concluded in late June, setting a key milestone for the growth course of the Group. At the end of October, the takeover of Avesta Welding AB (Sweden) is finalized. BÖHLER-UDDEHOLM successfully completes a capital increase at the beginning of June.

2006
BÖHLER-UDDEHOLM closes its third consecutive record year. The integration of the Buderus Edelstahl companies and Avesta Welding AB is completed. The Group increases capital expenditure significantly, constructs a production facility for welding consumables in Suzhou (China) and acquires Helmold, a producer of special cutting rules in the USA.

2007/08
The Group establishes a new record for sales and earnings. This year also brings a significant change in the ownership structure of BÖHLER-UDDEHOLM AG. The former core shareholder BU Industrieholding GmbH sells its stake to voestalpine AG, which subsequently acquires the majority of shares in BÖHLER-UDDEHOLM in June through a voluntary public offer. 

2008/09
voestalpine AG completes the takeover of BÖHLER-UDDEHOLM AG, and the company is now wholly owned by voestalpine. As a consequence of this transaction, the BÖHLER-UDDEHOLM share is delisted from the Vienna Stock Exchange on 5 September 2008. The integration in the voestalpine Group is finalized; BÖHLER-UDDEHOLM forms the Special Steel Division in the voestalpine Group. BÖHLER-UDDEHOLM’s sales and earnings drop below the record prior year levels as a result of the global financial crisis.

2009/10
This business year marks the most difficult in the history of BÖHLER-UDDEHOLM as the financial crisis impacts the global economy massively. In the first half of the business year, order intake shrinks substantially across all markets; in the second half demand recovered from low levels. The Supervisory Board of voestalpine decides to assign two business areas of BÖHLER-UDDEHOLM to other voestalpine divisions: Welding Consumables becomes part of the Railway Systems Division and Precision Strip becomes part of the Profilform Division. The reorganization is effective per 1 April 2010.