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JSW Steel Announces Acquisition Of It...

by wireworld on 05/21/2018 - 08:23 am
Tags: Acquisitions, Press Releases

JSW Steel has acquired Aferpi, an Italian steelmaker, for a cash consideration of 55mn euros (Rs441cr). The acquisition also includes stake purchase in Aferpi who is a maker of specialty long steel products. The company's plant consists of a rail mill (0.32mtpa), a bar mill (0.4mtpa) and a wire rod mill (0.6mtpa). The plant also has a captive port and steel ball mill that are part of the acquisition. Aferpi specializes in producing high-quality long steel products such as rails, wire rods and hot rolled bars. The company supplies high-speed rails to major railway networks in Europe. The acquisition would be funded through internal accruals and debt held by the target companies. JSW Steel s ...

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Cable Specialist Volex Acquires Slova...

by wireworld on 05/16/2018 - 03:07 pm
Tags: Acquisitions, Press Releases

Warrington based cable firm Volex has announced it is to acquire a Slovakian firm in a deal worth £15m. Volex makes cables for the telecoms industry, power tools, computers, lawnmowers, hedge trimmers and other consumer goods.

The firm has announced the acquisition of Silcotec Europe and has also announced a conditional placing to raise £36m through the issue of 48,000,000 new ordinary shares at 25 pence each. The placing is being carried out to finance the acquisition of Silotec. Silcotec manufacturers and sells cable harnesses and electronic sub-assemblies for the medical, telecommunications and computer industries. It has 160 employees in a factory in Slovakia with customer ...

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Reichle & De-Massari Enhances ‘end-to...

by wireworld on 05/16/2018 - 09:40 am
Tags: Acquisitions, Press Releases

Reichle & De-Massari (R&M), the Swiss developer and provider of connectivity systems for network infrastructure has acquired Czech company Transportkabel – DIXI (TK DIXI) in order to enhance its end-to-end fibre optic cable offering.

Founded more than 20 years ago, R&M develops and manufactures fibre optic and metallic cables for power and communication applications in data centres, broadband networks, enterprise buildings and other infrastructure projects. It hopes that this acquisition will provide the company with TK DIXI’s optic cable design and production know-how, with a range of cable constructions suited to complete R&M’s three strategic market ...

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Outokumpu Acquires Fagersta Stainless...

by wireworld on 05/15/2018 - 09:29 am
Tags: Acquisitions, Press Releases

Outokumpu and Sandvik have signed an agreement for Outokumpu to purchase full ownership of Fagersta Stainless wire rod mill in Sweden. Fagersta Stainless is currently a 50/50 joint venture owned by Outokumpu and Sandvik Materials Technology.

Fagersta Stainless is a leader in special stainless steel wire rod serving customers globally. In 2017, the company’s revenues were approximately EUR 150 million and stainless steel deliveries amounted to 52,000 tonnes. Fagersta’s product offering complements well Outokumpu’s ASR wire rod mill in Sheffield, UK, and Outokumpu plans to develop both units further to ensure continued offering of leading products and service to its wire rod ...

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Grupo Simec Announces The Acquisition...

by wireworld on 05/04/2018 - 11:17 am
Tag: Acquisitions

Grupo Simec, reports that it has entered to a contract with Arcelor Mittal Brasil, S.A. for the acquisitions of the steel products plants of Cariacica and Itauna, both in Brazil and for steel wire drawn equipment for the production of wires and derivatives.

The production capacity of Cariacica plant is 600,000 mt/year of liquid steel and 450,000 mt/year of rolled steel products. This plant has more than 500 employees and produces light structural rods and profiles. The factory is located in the city of Cariacica, next to the city of Victoria, in Espirito Santo State, on a land of more than 1,200,000 m2.

The production capacity of Itauna plant is 120,000 mt/year of rolled steel ...

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Japan's Kyoei Steel To Boost Investme...

by wireworld on 04/17/2018 - 11:19 am
Tags: Acquisitions, Press Releases

Japan's largest rebar producer, Kyoei Steel, has announced to raise its stake in Vietnam Italy Steel Joint Stock Company, or VIS, to 65% from 20% and make VIS its subsidiary, with the deal targeted to be completed by May 14.Osaka-based Kyoei had acquired the 20% stake from VIS' largest shareholder Thai Hung Trading Joint Stock Company in 2017, and it plans to buy additional shares again from Thai Hung.VIS, located in northern Vietnam's Hung Yen province, hosts 450,000 mt/year of steelmaking capacity and 300,000 mt/year of rebar and wire rod rolling capacity.A Kyoei official said "Through making VIS our subsidiary, we will have three production bases in Vietnam and we will have more chances t ...

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Olympic Steel Acquires Berlin Metals

by wireworld on 04/03/2018 - 12:59 pm
Tag: Acquisitions

Olympic Steel Inc., a leading national metals service center, today announced that effective April 2, 2018, it has acquired the assets of Berlin Metals LLC, based in Hammond, Indiana. Terms in the all-cash deal were not disclosed. 

With approximately $50 million in annual sales, Berlin Metals was founded in 1967 and is one of the largest North American service centers processing and distributing prime tin mill products and stainless steel strip in slit coil form. The Company is also a supplier of galvanized, light gauge cold rolled sheet and strip; and other coated steels in coil form, to customers in the building products, automotive, and specialized ind ...

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“AW” - Axjo And Windak Signed Joint O...

by wireworld on 03/08/2018 - 08:09 am
Tags: Acquisitions, Press Releases

February 16th 2018, an agreement was reached between Axjo Plastic AB in Sweden and Windak AB. Axjo and Windak both focus on the cable industry and have co-operated for a long time. Now they are taking another step - which means greater benefits for the customers.

Windak is a privately owned Swedish company that started in 1994. Today they are a world leading manufacturer of cable industry machines. Axjo Plastic AB and Windak AB have signed an agreement in which Axjo Plastic acquires 24% of Windak. The acquisition is in Windak Holding AB and the sister companies Windak AB, Windak Inc, Windak Australia and Windak OU in Estonia.

"For Windak and for our customers, there are great benefits of c ...

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Subsea 7 Acquires Cable Lay Business ...

by wireworld on 03/01/2018 - 07:47 am
Tags: Acquisitions, Press Releases

Subsea 7 is to acquire cable lay business Siem Offshore Contractors, as well as the Siem Aimery and Siem Moxie vessels, to expand its presence in the renewables sector.

The deal, which is subject to competition clearance in Germany, is priced at an initial consideration of €140m.  The acquisition includes the entire issued share capital of Siem Offshore Contractors, which has about 100 employees. 

Array cable lay vessel Siem Aimery and support ship Siem Moxie are owned by Siem Offshore Rederi, which together with Siem Offshore Contractors are wholly owned subsidiaries of Siem Offshore.

Subsea 7 will fund the deal through its own cash resources, with the ...

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Gerdau Sells Beaumont Mill To Optimus...

by wireworld on 02/17/2018 - 11:57 am
Tags: Acquisitions, Press Releases

Gerdau SA has entered into a definitive agreement with Optimus Steel to sell its Beaumont wire rod mill and Beaumont Wire Products and Carrollton Wire Products in Texas for $92.5 million, the Brazil-based steelmaker announced. The Beaumont steel mill has melt capacity of around 700,000 tons per year and rolling capacity of 800,000 tpy, according to a recent industry director. The mill produces wire rod and coiled rebar. Beaumont Wire Products and Carrollton Wire Products includes a wire mesh mill, while the latter supplies industrial wire into the greater US southern region, according to a statement from Optimus Steel. Optimus Steel is a newly formed company affiliated with Jacksonvi ...

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