(ANSA) – ROME, JUL 13 – The Marcegaglia group has signed an agreement to acquire 100% of the main companies in Outokumpu’s long stainless steel product division.
The transaction includes an electric furnace steel mill for special steels – thus the Italian group, leader in the transformation of steel, becomes a producer for the first time -, a wire rod rolling plant and a bar production plant in Sheffield (UK) ; a bar production plant in Richburg (USA); a wire rod hot rolling plant and a drawn wire production plant in Fagersta (Sweden). The value of the transaction is 228 million.
The Gazoldo degli Ippoliti group “invests in primary steel production for the first time in its history. A strategic operation, also of strong symbolic value: in 1913, in fact, steel was born and developed in Sheffield stainless “. Furthermore, “through this operation, thanks to innovation, the diffusion of low-carbon technologies and resource efficiency, it accelerates its important path of reducing energy consumption and greenhouse gas emissions”.
“Thanks to this important transformative acquisition, our group further strengthens its business of special steels through two strategic lines”, comment Antonio and Emma Marcegaglia, respectively president and vice president of the group: “The first concerns flat products in stainless steel, where a partial integration upstream of the value chain is achieved with a view to shortening and stability of the supply chains and an offer of increasingly sustainable and competitive products is developed. The second, significantly expanding the production of long products in stainless steel and further enriching the range of products and types of steel. The operation also aims to consolidate our position on international markets, acquiring further market shares both in Europe and in North America “.
(HANDLE).
Source: Ansa
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