SEATTLE (Scrap Monster): German steelmaker Thyssenkrupp has announced sale of its Acciai Speciali Terni (AST) stainless steel mill assets to Italian group Arvedi. The sale deal also covers the associated sales organization in Germany, Italy and Turkey. Both the parties did not disclose the deal value.
The deal is part of Thyssenkrupp’s transformation process, to focus on its main portfolio of operations by realigning the group. This is the sale of the fourth portfolio company in the Multi Tracks segment. The transaction is expected to close within the first half of 2022 and is subject to approval by the company’s supervisory board as well as merger control clearance. As per reports, the company is also exploring possibilities of a minority shareholding in the AST Group.
The partnership with Italian steelmaker Arvedi is expected to create a strong European player in the steel business. Meantime, Arvedi has committed to make significant investments in connection with the acquisition of the new assets. Arvedi is expected to drive the development of the company with investments and innovations. The transaction is considered strategic for the whole Italian economy.
|Base Metals||VIEW ALL|
|Alumina 98.5% min||50558.04||12717.8|
|Aluminum Alloy A356||2.70723||0.23|
|Minor Metals||VIEW ALL|
|Ammonium heptamolybdate 54% min||2489611.41||151162.83|
|Ammonium metavanadate 98% min||1605161.61||-330749.64|
|High Purity Metals||VIEW ALL|
|Aluminum ingot purity 9999900||41900.00||0|
|Aluminum oxide purity 9900000||12100.00||0|
|Rare Earth||VIEW ALL|
|Cerium carbonates TREO 45% min, CeO2 / REO 100%||131194.44||1088.1|
|Cerium Metal 99% min||429641.55||3561.48|