According to a framework agreement between Ljubljana, Slovenia-based Slovenian Steel Group (SIJ) and Italy's Centro Servizi Metalli (CSM), the Slovenian group will gain control of 72.78 percent of the Reggio Emilia, Italy-based stainless steel service center network, as indicated by CSM in a statement to Milan Stock Exchange. While SIJ will achieve a controlling stake in CSM, CSM will receive from SIJ a 100 percent stake in Italy-based Griffon Romano S.p.a. and an 85 percent stake in Germany-based Niro Wenden GmbH, which will help to further expand CSM's distribution network.
CSM's network includes two sites in Italy (in Reggio Emilia and Cremona), one in Poland, one in France and also commercial offices in Germany and Belgium. The company is involved in plasma cutting, mechanical cutting and distribution of stainless flat steel.