Italian steel service center Eusider Group, owned by the Anghileri family, has announced it has acquired 100 percent of the capital of Bidue, based in Melara, Rovigo, in northeast Italy, which is a leader in the production of high quality welded tubes.
In the three-year period from 2017 to 2019, Bidue produced an average of 15,000 mt per year and obtained a turnover of €20 million, of which 80 percent was earned abroad (rest of Europe, United States, Brazil, Russia, Australia, India, China and Mexico), and an EBITDA of 23 percent. Bidue has 30 employees.
"In addition to its great profitability and strong internationalization, Bidue is characterized by high product quality, as demonstrated by its ISO 9001 and IATF 16949 certifications for the automotive sector and the ISO 14001 certification for environmental sustainability. With this operation, the first of a very important year for us at a strategic level, the growth, verticalization and internationalization processes of the Eusider Group continue," said Eusider CEO Eufrasio Anghileri.
Also, Eusider co-founder Antonio Anghileri expressed satisfaction as he said the acquisition "will allow the group to be even more present in the welded tube sector and especially in this niche of coated tube for special uses."
Eusider Group, founded in 1979 by the Anghileri brothers, is the second largest private steel group and fourth largest steel service center in Italy and is controlled by the family through the parent company Eusider Spa based in Lecco. The group operates through seven subsidiaries which have a total of 500 employees. The main products handled and sold are coils, heavy plates, chromed tubes and bars, round bars, stainless steel and aluminum.
According to what Eufrasio Anghileri said during a recent interview with Italian economic newspaper Il Sole 24 Ore, the group is now "verifying the possibility of acquiring a service center abroad that will further verticalize us but above all allow the group to make the decisive leap in quality in its path of internationalization."