German steel maker thyssenkrupp has completed the sale of Acciai Speciali Terni, including the associated sales organization in Germany, Italy and Turkey, to the Italian company Arvedi. The sale was contractually agreed in September 2021. Both parties have agreed not to disclose the financial details of the transaction. It has been agreed with the buyer Arvedi that thyssenkrupp will retain a 15% stake in AST in order to strengthen the existing operational cooperation with Arvedi through such a minority stake.The stainless steel producer AST employs around 2,700 people who generated sales of around EUR 2 billion in the 2020/2021 financial year. The merger of AST and Arvedi creates a strong European steel company with a total of 6,200 employees. Arvedi's core business is primary steel production and processing of steel products.With the sale, thyssenkrupp is already parting with the fourth portfolio company in the Multi Tracks segment. thyssenkrupp has previously completed the sale of the Infrastructure business and Carbon Components and announced the sale of the Mining business. In addition, the heavy plate plant in Duisburg was closed.
German steel maker thyssenkrupp has completed the sale of Acciai Speciali Terni, including the associated sales organization in Germany, Italy and Turkey, to the Italian company Arvedi. The sale was contractually agreed in September 2021. Both parties have agreed not to disclose the financial details of the transaction. It has been agreed with the buyer Arvedi that thyssenkrupp will retain a 15% stake in AST in order to strengthen the existing operational cooperation with Arvedi through such a minority stake.The stainless steel producer AST employs around 2,700 people who generated sales of around EUR 2 billion in the 2020/2021 financial year. The merger of AST and Arvedi creates a strong European steel company with a total of 6,200 employees. Arvedi's core business is primary steel production and processing of steel products.With the sale, thyssenkrupp is already parting with the fourth portfolio company in the Multi Tracks segment. thyssenkrupp has previously completed the sale of the Infrastructure business and Carbon Components and announced the sale of the Mining business. In addition, the heavy plate plant in Duisburg was closed.
