Salzgitter AG has signed an agreement to take over Stahl Metall Service Gesellschaft für Bandverarbeitung mbH (Stahl-Metall-Service).

This measure will complement the existing steel service center activities of our Group in Schwerte, North-Rhine Westphalia, through adding facilities in southern Germany.

The parties have agreed not to disclose the purchase price.

The reputation of Stahl Metall Service for the highest quality and special precision in steel strip processing goes back to 1988. The company, that currently has a workforce of around 110 employees, has operated cutting edge production facilities in Karlsruher Rheinhafen since 2008. It generated sales of EUR 135 million and shipments in excess of 200,000 tons in 2010. Customers span the automotive, mechanical engineering and electronics sectors, along with ventilation and air conditioning technology, to mention a few.