Through its holding company COMPAGNIA SIDERURGICA ITALIANA S.p.A., the Pittini Group has finalised the acquisition of 100% of STEELAG GmbH, a market leader in Central Europe in the field of electro-welded products and wire rod derivatives for the construction (building) and mechanical engineering industries.
Federico Pittini, President of the Group of the same name, expresses his satisfaction with the achievement of this important goal and states, “This acquisition represents a milestone for our Group’s strategy of consolidation and internationalisation that was undertaken years ago. The expansion of our product range through STEELAG’s industrial and commercial structures will allow us to further consolidate our presence in the markets of Central and Eastern Europe while reinforcing the process of production verticalization that has always been at the heart of our industrial and product strategies.”
The acquisition of STEELAG GmbH reflects the Pittini Group’s desire to consolidate its commercial and production presence in the markets of Central Europe by pressing ahead with its internationalisation process, which now sees it channelling more than 70% of its turnover into foreign markets and being firmly established in over 60 countries. The successful acquisition of STEELAG GmbH will further expand the distribution network for Pittini products in synergy with the Group’s other production units.
STEELAG GmbH based in Aichach (Germany, Bavaria) includes within its scope the three production plants of STEELAG Praha s.r.o. (Kralupy-Czech Republic), STEELAG Bánovce s.r.o. (Bánovce-Slovak Republic) and Drat Pro s.r.o. (Kralupy-Czech Republic), employing approximately 200 human resources and developing a total production of over 200,000 tonnes per year of finished products, which can be derived entirely from the processing of Pittini Group wire rod. The latter is the leading Italian steel producer in long steel products with an annual wire rod production of 2 million tonnes.
With this operation, the Pittini Group aims to secure maximum industrial efficiency for STEELAG GmbH’s production facilities by incorporating them into an integrated supply chain with the Group’s steel mills and rolling mills.
STEELAG GmbH, within the framework of Group management, will continue to maintain its full commercial and distribution autonomy, remaining a major player in its reference markets, integrating and further consolidating the Pittini Group’s product range in the sectors of concrete reinforcement and mechanical engineering in general, also through the new distribution channels of the newly acquired company.
