voestalpine Extends Welding Technologies Portfolio with Acquisition in Italy
06/04/2013 - 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 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 € 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 is a steelmaking, processing, and technology group that operates worldwide and manufactures, processes, and develops high-quality steel products. With 500 production and sales companies in more than 50 countries on five continents, the Group has been listed on the Vienna Stock Exchange since 1995. With its top-quality flat steel products, the Group is one of the leading partners to the automotive and domestic-appliance industries in Europe and to the oil and gas industries worldwide. The voestalpine Group is also the world market leader in railway switch technology, special rails, tool steel, and special sections. In the 2011/12 business year, the voestalpine Group reported revenue of more than € 12 billion and an operating result (EBITDA) of € 1.3 billion. It staffs roughly 46,500 employees worldwide.
