Austrian steelmaker voestalpine has announced that it is extending its welding technologies product portfolio with an acquisition in Italy. Accordingly, the company's subsidiary Böhler Welding Holding GmbH is acquiring 90 percent of shares in the Italian company Trafilerie di Cittadella S.p.a/FILEUR, which is specialized in the production of seamless flux cored wire especially suitable for welding of high strength, low temperature and creep resistant steels. The parties have agreed not to reveal details of the purchase price.
Additionally, voestalpine has announced its financial results for the fiscal year 2012-13 ended March 31, reporting that its net profit increased to €521.9 million, up by 26.3 percent compared to the previous year. The revenues of the company decreased by 4.4 percent year on year to €11.52 billion, primarily due to lower raw materials prices.
In the given period, the company's EBITDA increased by 10.7 percent year on year to €1.44 billion, which is equivalent to an EBITDA margin of 12.5 percent, rising from 10.8 percent in the previous year.