Italy’s Cogne Acciai Speciali to acquire US-based Mannesmann Stainless Tubes

Wednesday, 21 February 2024 14:18:07 (GMT+3)   |   Brescia
       

Italian steelmaker Cogne Acciai Speciali has announced that it has reached an agreement to acquire Mannesmann Stainless Tubes, a US-based tube producer which is part of the German group Salzgitter Ag, as reported by local Italian media today, February 20.

Massimiliano Burelli, CEO of Cogne Acciai Speciali, commented: “This agreement is the first, successful step towards the realization of our strategy […]. We are grateful to be part of a motivated team of experts who have been working in the steel sector for many years. The merger of our company with Mannesmann Stainless Tubes will allow a strategic upstream integration, in order to become a more prominent player in the global market.”

The transaction will be completed within the next few months, following approval by the regulatory authorities.


Similar articles

Italian crude steel production down 12.6 percent in March

22 Apr | Steel News

EU HRC prices drop again but may finally hit bottom, import prices firm up

19 Apr | Flats and Slab

Local Italian scrap prices edge up slightly, further rises expected in May

19 Apr | Scrap & Raw Materials

ArcelorMittal raises longs prices in Europe, production halts expected in Italy

18 Apr | Longs and Billet

Italy’s Caleotto installs new Garret line at Lecco plant

17 Apr | Steel News

Italy to try out new import procedure to avoid safeguard duty

16 Apr | Steel News

Assofermet: March disappoints in Italian steel market, Tube & Wire Exhibition awaited

15 Apr | Steel News

HDG and CRC prices in EU decrease further, higher buyers' pressure on CRC

12 Apr | Flats and Slab

Long steel prices in southern European market still weak

12 Apr | Longs and Billet

Local Italian scrap market stable, sentiment improving

12 Apr | Scrap & Raw Materials