With effect from April 30, 2010, German steelmaker ThyssenKrupp Group has bought all shares of Techno-Stahl Stahlgroßhandel und Brennschneidbetrieb GmbH, Vienna, Austria, a company statement said.
The new acquisition is a flame cutting company with great technical expertise in the area of processed flat products, the statement said, adding that its core business is the production of sheet metal and slab blanks by thermal cutting.
Techno-Stahl, with annual sales revenues of €17.4 million and 76 employees, processes both standard and specialty materials and operates mainly in Central and Eastern Europe, including Austria, Germany, Switzerland, the Czech Republic, Slovakia, Slovenia, Hungary and Poland.
The seller is managing partner Edward Ferszt, who will stay with the company in the interests of continuity and safeguarding know-how, ThyssenKrupp said.
The acquisition is subject to approval by the Austrian antitrust authorities. It has been agreed that the purchase price will not be disclosed.