AvestaPolarit sells stake in ss bar distributor
The Finnish
stainless steel maker AvestaPolarit has sold its 50% stake in
stainless steel bar
distribution company Avesta Valburna Ab to the Italian
stainless long products producer Acciaierie Valbruna. Acciaiere Valburna holds the remaining 50% stake as well.
Avesta Valburna Ab is located in Nordic Area, sourcing most of the products from Acciaiere Valburna facilities in
Italy. Both companies are willing to keep the co-operation ongoing, basically by AvestaPolarit's Nordic sales companies to source bars from Valburna. This sale is seen in line with AvestaPolarit's strategic plans for developing its long products activities. AvestaPolarit has at the moment an investment in the Sheffield Melting Shop and Avestapolarit Bar unit in the
US.
AvestaPolarit has
production plants in
Finland,
Sweden,
UK and USA, and can offer service to customers worldwide through its own broad sales and
distribution network. The Group has an annual
stainless steel melting capacity of about 2 million tones, increasing to 3 million with the completion of ongoing expansions 2002-2004.