Germany-based steelmaker Salzgitter Group has announced that it is taking a further step in portfolio management. Accordingly, the company’s steel trading subsidiary Salzgitter Mannesmann Stahlhandel GmbH has signed an agreement to sell Salzgitter Mannesmann Stahlhandel Austria to Denmark-based ECCO Group. The purchase price has not been disclosed, and the transaction is still subject to approval by the antitrust authorities.
The agreement provides for the transfer of all operating assets and divisions, including the company’s two sites in Graz and Gratkorn in Austria. In addition, the existing supply relationships with the previous owner company and with the supplier plants of the Salzgitter Group will remain in place.