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.