Viennese steel dealer Pisec after global crises broke!

Viennese steel dealer Pisec after global crises broke!

Vienna, Österreich - The Viennese steel dealer Pisec is in front of the final end. On April 17, 2025, the bankruptcy of the Pisec Group Austria GmbH and Pisec Group Holding GmbH was announced by the Creditor Protection Associations AKV and KSV. The economic difficulties of the company that has existed since 1950 were caused by numerous factors, among other things by the Ukraine conflict, strong faults on the raw material markets and a very declining demand, especially from the USA. According to the KSV, the company's continuation is "not presentable".

The bankruptcy has a direct impact on employees and creditors: Eight employees and 14 creditors are affected by Pisec Group Holding GmbH. The liabilities amount to around 109 million euros, of which around 78.5 million euros in guarantees for banking liabilities for subsidiaries are eliminated. The Pisec Group Austria GmbH is also faced with similar problems. Here the liabilities are around 100 million euros, with around 85.5 million euros on banking liabilities.

causes of bankruptcy

The inventory of the Pisec companies are full, which also tightens the financial situation. These difficulties are not only the result of internal mismanagement, but also effects of external factors. The Ukraine War has had a devastating effect on the entire steel industry. Steel corporations in Germany already warn of their business impairments, from which the demand for steel also suffers. Salzgitter reported "barely quantifiable forecasting" with regard to the economy and higher energy costs that could become a burden for many companies.

The price increases in the steel sector can already be felt clearly. Steel prices have increased by more than 40 percent, especially for warm -rolled steel. The loss of producers from Russia and Ukraine and a decline in stahlexports help to ensure that prices will probably remain high. Experts assume that the steel industry will have to adjust to these challenges in the long term.

A look at the Ukrainian steel industry

The situation in Ukraine itself is just as dramatic for the steel industry. In cities such as Kriwi Rih, an important center of steel production, performance is greatly reduced due to the warlike arguments. Here the ArcelorMittal steel mill produced 16 million tons of steel every year before the war broke out, but the company is now severely restricted. The bearings fill up while external sales are hardly possible.

The costs for the transport of goods have increased and logistical problems continue to make the situation more difficult. Many companies have reduced their production. However, Kriwi Rih and other steel metropolises have hopes for the reconstruction of the country and the industry after the end of the conflict. The steel industry remains central to the local economy, even if the city administration has already started to create diversified economic structures.

The bankruptcies in industry such as those of the Viennese steel dealer Pisec show the global interdependencies and the susceptibility of the steel industry in times of political and economic crises. The future of the industry remains uncertain, and the coming months will be crucial to whether and how the markets can stabilize.