Italian companies Brescia-based ORI Martin and Vicenza-based AFV Beltrame Group have signed a commercial agreement regarding Ferrosider, a company based in Ospitaletto, Brescia, that is specialized in the production of flat, square and round rolled steel products, IPE, IPN, UPN and UPS beams, angles, T-profiles, that was acquired by ORI Martin in 2018. The agreement, Beltrame explained in a note, is "a subcontracting contract", and is "for the purchase of the business commercial unit, including the warehouse, of Ferrosider".
"The operation has developed under the sign of continuity both in terms of supply and customer service but, above all, of production, which will continue at the Brescia site," Beltrame added. Commercial activity will officially begin on January 1, 2021.
Some sources interviewed by SteelOrbis commented on the news with some concern in view of the increase in local prices of merchant bars. An increase has already occurred in recent days, with ex-works offers increasing by €30-40/mt or even more in the past week. A source pointed out that the new agreement is consistent with "the diversification strategy pursued by ORI Martin, especially after almost two years in which the special steel sector has not given very satisfactory results."