Italy-based long stainless steel producer Cogne Acciai Speciali has announced that it has signed a contract to acquire a 65 percent controlling interest in Com.Steel Inox, the stainless steel scrap business of Italian metal recycler Com.Steel. The transaction is expected to be concluded in the coming months.
The acquisition will improve the company’s environmental footprint and optimize its operations. “The purchase of the majority share of our main supplier of stainless steel scrap is the first step in our upstream verticalization strategy, enabling us to guarantee the circularity of our activities, also through an optimized composition of the scrap charge, with less use of ferroalloys and relative improvement of the carbon footprint,” Massimiliano Burelli, CEO of Cogne Acciai Speciali, commented.
