Post WWII the company "Hütte Liezen" entered state control and became a subsidiary to VÖEST in the 1950s.

During the 1980s the company was involved in the 'Noricom' arms scandal due to its production of heavy artillery which were illegally exported.

After independence from VOEST in the 1980s and bankruptcy in the 1990s the company was restarted as Maschinenfabrik Liezen und Gießerei Ges.m.b.H.

As of 2012 the company has extensive mechanical engineering facilities and foundry, and manufactures industrial milling and sawing machines.

In 1939, the family of industrialists Schmid-Schmidsfelden created a works in Liezen; this was for the war effort and was not intended to be a post-war commercial business.

In 1986 the company was renamed Noricum Maschinenbau und Handels-GmbH;[2][4] During this period it became the centre of arms-export scandal - the Noricum Scandal; the plant had manufactured the GC-45 howitzer, which was then exported to Iraq and Iran via proxies (at the time of the Iran-Iraq war) - this was in violation of Austria's own arms treaties, and arms export treaties.

[6] In October 1989 the company became an independent entity as Maschinenfabrik Liezen AG, and was sold for the token sum of 1 Schilling to industrialist Emmerich Assmann.