AvestaPolarit completed the quarto plate acquisition

AvestaPolarit completed the quarto plate acquisition

Back in September 2002, AvestaPolarit announced that they had signed a letter of intent for the acquisition with ThyssenKrupp Nirosta. As AvestaPolarit received the required approvals from the related authorities, the purchase of the stainless steel quarto plate unit has now been completed against €59 million. ThyssenKrupp Nirosta's quarto plate unit's annual delivery capacity is 40'000tonnes with net sales around €95 million. Whereas AvestaPolarit hot rolled plate unit's total net sales of quarto plate was approximately €200 million, with an annual total production capacity of 110'000tonnes, before the acquisition. On this account, because it is believed that this acquisition will most likely help AvestaPolarit to strengthen and increase their quarto plate production, company officials see it as an important move to consolidate the company's position as the leading plate producer in the world.