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voestalpine extends its welding technologies product portfolio with an acquisition in Italy

2013-06-03 | 

The voestalpine Group is driving its growth strategy forward with another acquisition, purchasing the Italian company Trafilerie di Cittadella S.p.a/FILEUR, based in Cittadella. The company is specialized in the production of seamless flux cored wire, employs a staff of around 60 and generated annual revenue of EUR 13.7 million in 2012. For voestalpine, this acquisition represents an additional strengthening of its already extensive welding technologies portfolio.

The Böhler Welding Holding GmbH, a subsidiary of the voestalpine Group’s Metal Engineering Division, is acquiring 90% of the shares in the Italian company Trafilerie di Cittadella S.p.a/FILEUR. With Trafilerie di Cittadella S.p.a/FILEUR, the voestalpine Group is acquiring an international specialist in the production of high quality seamless flux cored wire. Due to the extraordinary product properties, like the low hydrogen content, accountable to the unique manufacturing method, seamless flux cored wires are especially suitable for welding of high strength, low temperature and creep resistant steels. As a result, voestalpine will profit in the future from a considerably extended portfolio. It has been agreed not to reveal details of the purchase price.

The voestalpine Group

The voestalpine Group is a globally active steel, processing, and technology Group, which produces, processes, and further develops high-quality steel products. The Group is represented by 360 production and sales companies in more than 60 countries on five continents and has been listed on the Vienna Stock Exchange since 1995. With its highest quality flat steel products, the Group is one of Europe’s leading partners to the automotive, white goods, and energy industries as well as of the oil and gas industries worldwide. Furthermore, the voestalpine Group is the world market leader in turnout technology, tool steel, and special sections. In the business year 2011/12, the voestalpine Group generated revenue of more than EUR 12 billion and an operating result (EBIT) of EUR 704 million; the Group has around 46,500 employees worldwide.