AvestaPolarit sells stake in Avesta Valbruna

AvestaPolarit has sold its 50% stake in Avesta Valbruna Ab to the other 50% owner, Acciaierie Valbruna, an Italian stainless long products producer. Avesta Valbruna Ab was established in 1992 as a Joint Venture focused on stainless bar distribution in the Nordic area. The majority of products have been sourced from Acciaierie Valbruna’s bar production facilities in Italy. The two owners have now agreed that the development of the business will be best served by the activities being wholly owned by one owner, Acciaierie Valbruna. Avesta Valbruna has offices in Karlstad and a warehouse in Eskilstuna in Sweden and these will continue to be Acciaierie Valbruna’s platform in this region. The agreement includes provision for ongoing co-operation between the companies, in particular for AvestaPolarit’s Nordic sales companies to continue as agents, sourcing bar from Valbruna through the Eskilstuna stock.

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