Voestalpine sees no negative impact from Brexit so far - CEO
Reuters
Published Aug 09, 2016 10:52
Voestalpine sees no negative impact from Brexit so far - CEO
VIENNA (Reuters) - Austria's Voestalpine (VI:VOES) has not seen any major negative impact from Brexit on its business so far and does not expect any long-term negative effects as the company was prepared to transfer some of its business from Britain to other European markets, the group's chief executive said.
Wolfgang Eder, who is also chairman of the World Steel Association, said he does not expect the British decision to leave the European Union to broadly affect the European steel industry in the longer term, either.
"Of course, if we see a major devaluation of the British currency this could mean that we see some more aggressive behaviour of UK steel producers into other markets due to the advantages of the devaluation," Eder said in a call on Tuesday. "But I do not expect a really significant impact from that."
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Written By: Reuters
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