The voestalpine Group is once again driving forward its activities in North America. The voestalpine Precision Strip GmbH is acquiring the Wickeder Steel Company, based in Pleasant Prairie, Wisconsin (US). The enterprise has a staff of 50 employees and generated revenue of around EUR 13 million in 2014. This acquisition strengthens the voestalpine product portfolio of hardened special steel strip for sophisticated applications such as band saw blades for the food industry.
By the beginning of November 2015, the voestalpine Precision Strip GmbH, based in Böhlerwerk, Lower Austria, will have acquired 100% of the US Wickeder Steel Company, now renamed voestalpine Precision Strip WI, Inc., in Wisconsin, from its former owner Wickeder Westfalenstahl GmbH. The Wickeder Steel Company is specialized in heat treating and hardening carbon steels for the manufacture of saws, hand tools, and flapper valves, and is one of the top five companies in this sector in the USA. “The Wickeder Steel Company product and technology portfolio is a perfect match for our US growth strategy and our core competencies. After opening the new automotive components plant in Shenyang, China, last week, this is a further step in our internationalization strategy,” explains Peter Schwab, Member of the Management Board of voestalpine AG and Head of the Metal Forming Division.
The Wickeder Steel Company and the voestalpine Precision Strip Group, with its production sites in Sweden and Austria, can both look back on a long tradition of heat treating and hardening special steel strip to meet exacting customer requirements. As well as continuing to run existing production facilities, a strategic goal is to further strengthen the local site in Wisconsin. The acquisition is also intended to boost and complement the position of the voestalpine Precision Strip Group in a series of product segments, such as saws for the food industry.