!!!Vereinigte Edelstahlwerke AG, VEW

Vereinigte Edelstahlwerke AG, VEW: By the law of June 11, 1975 the 
Gebrueder Boehler & Co AG ( Boehler-Werke), the  Schoeller-Bleckmann 
Stahlwerke AG and the Steirische Gussstahlwerke AG Judenburg were 
amalgamated retroactively as from January 1, 1975 to form the VEW as a 
wholly-owned subsidiary of VOEST-Alpine AG. This merger was intended 
to make the Austrian high-grade steel sector internationally 
competitive, co-operation was to be co-ordinated and a uniform 
organisational structure was to be created. This construction, 
however, led to considerable losses which required capital injections 
totalling ATS 17.3 billion (by 1987) and ultimately resulted in the 
dissolution (1988) of the business group. Reasons were the 
international steel crisis, organisational problems of the business 
group, traditional production ranges of the individual plants and 
political influence on the management.


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