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Press Release

Cogne Acciai Speciali to acquire Mannesmann Stainless Tubes



Signed today the contract between Cogne Acciai Speciali SpA and Salzgitter AG, which settles the acquisition of Mannesmann Stainless Tubes GmbH with subsidiaries and operating plants in Germany, France, Italy and USA.

Mannesmann Stainless Tubes is active in the manufacturing and commercialization of seamless stainless steel and nickel alloys tubes and pipes, with a global presence and a top-notch Customer base.

Massimiliano Burelli, Chief Executive Officer of Cogne Acciai Speciali commented: “Today’s agreement is an amazing step towards the materialization of our strategy, as it ensures both the downstream verticalization and an additional saturation of the Aosta Steel Melting Shop. We are honoured to bring home an incredibly competent and engaged team, with a long-lasting history in the steel industry: the combination with our Company will fuel a transformational effect. This move will allow Mannesmann Stainless Tubes to strategically integrate upstream and become an even more successful player in the global market”.

We expect to complete the process in the next months. The transaction is subject to customary closing conditions and regulatory approvals by the competition authorities, and it will be carried out as a share purchase deal.

Cogne Acciai Speciali has been supported by lawyer Vittorio Noseda and his team from ADVANT-Nctm.

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