Voestalpine Austria Draht GmbH, the largest steel wire producer in Austria and also a subsidiary of Voestalpine announced that it will acquire 54% shares in CPA Filament GmbH, a subsidiary of Steinklauber group, aiming to expand its steel wire manufacturing business.

The company planned to build a new production facility for ultra-high-tensile fine wire up to 0.08 mm at the Fürstenfeld site. The facility will be put into operation by the end of 2012.

Voestalpine expected to have 3,000 tons of new production capacity in the first stage. Also, it will bring 40 jobs.