Spanish stainless steel producer Acerinox has announced that its wholly-owned US subsidiary North American Stainless (NAS) will acquire Haynes International, a US-based high-performance alloys manufacturer, for about $970 million.
“This acquisition is aligned with Acerinox’s key strategic priority of enhancing our focus on value-added products with an emphasis on excellence and sustainability, building on our successful acquisition of VDM Metals in 2020. The Haynes team has built a leading high-performance alloys business that will now be supported by Acerinox’s global operating and financial strength,” Carlos Ortega Arias-Paz, chairman of the board of Acerinox, stated.
The Spanish company announced last year that it would invest $244 million to increase NAS’s capacity by 200,000 mt, build a new cold rolling mill, upgrade annealing and picking lines, and enlarge its meltshop, as SteelOrbis reported previously.
