“An operation with a convincing industrial logic, which allows the group to become stronger, successfully completing its production mix”. Like this Giovanni Arvedi, founder and president of the Cremonese group of the same name, officially comments on the acquisition of Acciai Speciali Terni, pending the final closing expected in the middle of next year. Meanwhile, ThyssenKrupp has announced that it reserves the right to retain a minority stake in the asset. “It is – he added – a country system operation that could initiate other positive developments. We are pleased with the sign of continuity and trust that Thyssenkrupp wished to demonstrate by evaluating the possibility of maintaining a minority stake in Ast ».
Thanks to the combination with Ast – reads an official note from the German group – the Arvedi group will consolidate itself among the main European players in the steel sector. Arvedi is mainly active in the production and processing of carbon and stainless steel, currently employs 3,500 people and has announced significant investments in connection with the acquisition of Ast.
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The scope of the sale includes the related commercial organization in Germany, Italy and Turkey. The transaction is subject to the approval of thyssenkrupp’s supervisory board and the authorization of the European antitrust authority. The closing of the operation is expected within the first half of 2022.
The Ast group, with a turnover of approximately 1.7 billion in the 2019/2020 financial year, currently employs approximately 2,700 employees. With the sale, Thyssenkrupp separates itself from the fourth company in the portfolio in the Multi Tracks segment. This is a further important step in the transformation of the group towards a performing Group of Companies, explains the note from the multinational.
«This fourth transaction – explains the ceo, Martina Merz – demonstrates how we are working on our priorities, making decisive progress in the transformation process of Thyssenkrupp. The speed of implementation of the portfolio focus strategy is decisive for our transformation process. At the same time, improving performance remains our top priority. From this point of view, too, we are at a good point and continue to work.