International Metal Service (IMS) is in talks with Marcegaglia to buy the Italian company’s stainless steel distributor Cotubel. The transaction should be completed by mid-June, subject to regulatory approval from German anti-trust authorities. The acquisition will endow IMS with an entirely new line of activity in tubes and fittings, while strengthening its three main product lines − mechanical engineering, anti-corrosion and anti-abrasive steels. It will also open up new distribution channels in the chemicals, agricultural and energy markets.
