In a press release, Platts reported the transaction, expected to close in the first half of 2022, is pending approval by thyssenkrupp AG’s supervisory board. The purchase price has not been disclosed.
 
Additionally, thyssenkrupp is looking at the possibility of retaining a minority stake in AST.
 
AST has a production capacity of approximately 1.3 million metric tons per year, 70% of which is stainless steel.
 
"The tie-up with Arvedi will create a strong European player in the steel business," thyssenkrupp said in a statement, according to Platts. "Arvedi has announced significant investments in connection with the acquisition of AST."