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PRESS RELEASE

Cogne Acciai Speciali to acquire Special Melted Products in UK


Signed today the contract to buy Special Melted Products, a portfolio company of Mutares SE & Co. KGaA, by Cogne Acciai Speciali.


Based in Sheffield, UK, Special Melted Products is a leading supplier of melted, forged and precision machined premium, specialty steels and nickel based super alloys used in critical applications in the Aerospace, Oil & Gas and Nuclear end markets.


Massimiliano Burelli, Chief Executive Officer of Cogne Acciai Speciali declares: “Today’s agreement is an additional step in our growth strategy and it significantly strengthen Cogne Acciai Speciali presence in our focus markets. In Special Melted Products we have seen a perfect fit with our Aosta plant, with which we will harvest significant synergies, and have found an incredibly knowledgeable and committed team, who will integrate well with ours and it will create value for the Company.”


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.


Cogne Acciai Speciali S.p.A. (“CAS”) is a global leading manufacturer of stainless steel and nickel alloy long products located in Aosta (Italy). The manufacturing activities of the plant, founded in 1916, cover the main production cycles of the steel industry: steelmaking, casting, remelting, rolling, forging and machining. To enhance the customers proximity, additional cold process operations are performed through three plants, respectively located in Stabio (Switzerland), in Dong Guan (China) and in Huamantla (Mexico). CAS’ worldwide presence and customers proximity is assured by its own network of subsidiaries (both distribution companies and sales representative offices) based in Europe as well as around the world. CAS’ product range includes wire rod, hot rolled and cold finished bars, semi-finished products (ingots, blooms and billets) in stainless steels and nickel alloys; valve steels for automotive applications; tailor-made products on customers’ drawing in special steels. These products are mainly supplied to the Oil&Gas, Automotive, Aerospace, Medical and Energy sectors. In December 2022 CAS entered into the Walsin Lihwa Group. At the end of the year the Cogne Group employed 1.584 people, of which 1.065 in Italy.

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