Voestalpine concludes probe into balance sheet manipulation

Voestalpine AG

18/09/2024 10:00

VIENNA, Sept 18 (Reuters) - Austrian steelmaker
Voestalpine  VOES.VI  has concluded its investigation into
balance sheet irregularities at one of its subsidiaries and
filed criminal charges against the persons responsible, it said
on Wednesday.
    The company estimates that the impact amounts to a low
single-digit million euros, it noted, adding that the steps to
recover these damages are being examined and prepared.
    Voestalpine said in June it had discovered balance sheet
irregularities in the range of 100 million euros at a German
subsidiary in its Metal Forming Division, adding the impact was
not cash-effective and that no outflow of funds had occurred.
    "The case is now closed for Voestalpine. We will continue to
develop our control mechanisms and have already filed charges
against the persons responsible," Chief Executive Officer
Herbert Eibensteiner said.

 (Reporting by Tristan Veyet in Gdansk and Alexandra
Schwarz-Goerlich in Vienna, editing by Miranda Murray)
 ((Tristan.Chabba@thomsonreuters.com;))