Spanish stainless steel producer Acerinox S.A. has announced that it has completed the acquisition of US-based high-performance alloys manufacturer Haynes International through its wholly-owned US subsidiary North American Stainless (NAS). According to media reports, the sale price was about $798.7 million.
The company stated that the acquisition will allow Acerinox to strengthen its position in the US high-performance alloys segment and the aerospace industry. Together with VDM Metals, which was acquired by the company in 2020, Haynes International will be the forefront of Acerinox’s high-performance alloys division, in which the Spanish steelmaker will invest about $200 million over the next four years to create an integrated high-performance alloy and stainless-steel platform.