Salzgitter Mannesmann Stahlhandel GmbH, a Salzgitter AG company, has announced that it has agreed to sell its Austrian unit, Salzgitter Mannesmann Stahlhandel Austria, to the ECCO Group. As per this agreement, the ECCO Group is expected to take over assets, including its Graz and Gratkorn units in Austria.
The Company stated that this decision aligns with its strategic portfolio realignment efforts. However, the purchase has not been disclosed by neither parties and the transaction is still subject to approval by antitrust authorities.
Salzgitter AG established Salzgitter Mannesmann Stahlhandel Austria in 2012 through the acquisition of segments of Graz-based Kovac Stahl GmbH. The company has confirmed that existing supply agreements with both the previous owner and Salzgitter Group’s production facilities will remain unchanged following the sale to ECCO Group.
Both parties to the transaction have a shared interest in a close and trusting partnership, also beyond the change of ownership, an official report stated.
“We perceive Salzgitter Mannesmann Stahlhandel Austria as a company with a high level of industrial expertise, regional strength and attractive development potential – particularly in the area of pre-processing. Our goal is to secure stability together with the existing team and to realize new growth opportunities in a targeted manner,” says Dr. Daniel Ebert, Managing Partner of the ECCO Group.
However, the transition will not impact the current staff, clients, or business partners, with all operations and teams remaining intact. Service quality, reliability, and business continuity will be fully preserved under the new ownership.
Source: Salzgitter AG