ORI Martin, the Brescia-based Italian special steels producer, has announced the acquisition of a majority stake in Ferrosider SpA, a company based in Ospitaletto, Brescia, that is specialized in the production of flat, square and round rolled steel products, IPE, IPN, UPN and UPS beams, angles, T-profiles and other products for the mechanical industry and carpentry. The company has a turnover of €120 million per year and employs 104 people.
According to the press release issued by the company, ORI Martin has preferred, with the perspective of verticalizing its semi-finished products, to choose to enter an existing business and not to create new production capacity in an already saturated market, albeit in a favorable phase of the economic cycle."
Federica and Quinto Stefana from Ferrosider will maintain a significant share in the company and will have the roles of vice president and managing director, to ensure business continuity. The role of managing director will also be assigned to Piero Bettinzoli, chosen by ORI Martin, who will support them in the management of the company. The president of the company will be Dr. Annamaria Magri Martin, while Uggero De Miranda will be vice president.
“Ferrosider with this agreement carries out an important upstream integration by joining the ORI Martin Group, from which it will obtain supplies of special steels for the automotive sector, as well as maintain its presence in the merchant bars market, in which it is one of the main European players," stated the press release.
ORI Martin and Ferrosider owners expressed full satisfaction for the successful conclusion of an operation that strengthens both companies. According to unconfirmed sources, the transaction would amount to a cost of €80 million before deduction of debts.