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STEP-G expands business by acquiring Aluwerk Hettstedt GmbH-The 20th China (Guangzhou ) Int’l Casting product Exhibition
4/19/2019 - casting expo-Die-casting expo-foundry expo |
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STEP-G takes over the casting business of Aluwerk Hettstedt GmbH, a manufacturer of casted billets and extruded profiles, as well as the processing business of RMG Metallfachhandel GmbH. With this acquisition, STEP-G has taken an important step towards expanding its business in distributing high-quality semi-finished aluminium products. The acquisition includes two facilities in Germany. The production facilities are specialized in the production and distribution of medium and hard alloy extrusions, serving various industries. The transaction is expected to be closed in the third quarter of 2019.
Mr Michael Zint, Managing Director of STEP-G said that “The expansion of our extrusion business represents the next step in our strategy to position STEP-G in the dedicated business of extrusion products focussed on serving key branches including automotive, aerospace and railway industry. These acquisitions further strengthen our position as partner for high demanding alloys either for billets or extruded profiles.”
The announcement is in line with recently announced major projects that have been won by STEP-G ensuring future growth and sustainable results. Mr Zint added that “The extrusion business is a solid, well-runned business that serves a number of premier customers. Sankyo Tateyama, Inc. as Japanese owner of STEP-G views these sites as very complementary to their existing extrusion business that will enable Sankyo Tateyama to grow.”
Warth & Klein Grant Thornton acted as financial advisor of STEP-G on this transaction, ARQIS Rechtsanwälte as legal advisor
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