Italy-based long steel producer Pittini has acquired German electro-welded products and wire rod derivatives producer Steelag GmbH, according to local media reports.
With this acquisition, Pittini will be able to expand its product range and strengthen its distribution network abroad and its overall turnover will reach €2.5 billion.
Steelag has an annual production capacity of a total of 200,000 mt at two plants in the Czech Republic and one in Slovakia.