Swiss-based special steel producer and distributor Schmolz+Bickenbach has published the key elements of its offer for a takeover of a substantial part of the French assets of Belgium-headquartered specialty steel producer Asco Industries’ assets.
Schmolz+Bickenbach stated that the interest in an acquisition of a substantial part of Asco Industries’ assets is in accordance with the strategy of the company to play an active role in the consolidation of the European special long steel industry. A successful acquisition would create one of the leading European companies in high-value long steel products. The strategic rationale of the offer is the strong fit of Asco Industries French assets and the plants of Schmolz+Bickenbach Group.
The offer of the company includes a total financial commitment of €135 million, including €64 million in investments in the company’s production facilities over the next four years.