EANS-News: Salzgitter AG takes over part of the operations of Kovac Stahl,
Graz/Austria
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
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Mergers - Acquisitions - Takeovers
Salzgitter/Graz (euro adhoc) - Salzgitter AG/Germany has signed a contract to
acquire the Graz- and Gratkorn-based operations of Kovac Stahl, Graz/Austria.
Kovac Stahl, which has a workforce of around 130 employees, operates steel
trading and steel service center activities at its various locations. With
shipments of more than 40,000 tons, the company generated sales of approximately
EUR 47 million in 2011.
Salzgitter AG's Trading Division's has strengthened its market position in
Austria through the acquisition of these Kovac Stahl sites and will be
represented in future in this market through its own warehouse location.
Moreover, the transaction has extended the divison's portfolio in the field of
thermal separating technologies revolving around laser cutting. The Graz and
Gratkorn locations were founded by the Kovac family and managed as family
business to date. The prerequisites for the ongoing success and further growth
of these operations under the roof of Germany's second-largest steel
manufacturer have been put in place.
The parties have agreed to not disclose the purchase price. The acquisition is
subject to approval by the anti-trust authority.
Further inquiry note:
Bernhard Kleinermann
+49 (0) 5341/21-1852
ir@salzgitter-ag.de
end of announcement euro adhoc
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company: Salzgitter AG
Eisenhüttenstraße 99
D-38239 Salzgitter
phone: +49 (0) 5341-21-3783
mail: info@salzgitter-ag.de
WWW: http://www.salzgitter-ag.de
sector: Iron & Steel
ISIN: DE0006202005
indexes: Midcap Market Index, MDAX, CDAX, Classic All Share, Prime All Share
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
Stuttgart, regulated dealing/prime standard: Frankfurt
language: English