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.
