Düsseldorf-based ThyssenKrupp Services AG, the services subsidiary of Germany's largest steel producer ThyssenKrupp Steel, has announced plans to expand further into Central and Eastern Europe by means of acquiring an 80-percent share in Slovakian company Ferostav spol. s.r.o. as of October 1, 2007. The takeover in question is subject to the approval of a meeting of ThyssenKrupp AG's supervisory board on September 5, 2007.
Ferostav is the third biggest steel trader in Slovakia and operates in nine locations including Bratislava, Nove Zamky, Trnava and Martin. The company mainly specializes in services for steel sheet/plate, reinforcing steel, steel bars and rods, structural and sectional steel, H-beams, and pipes and tubes.
The acquisition is expected to streamline ThyssenKrupp's distribution and extend its product and services lineup.