ThyssenKrupp acquires TAD

ThyssenKrupp Acciai Speciali Terni is to acquire the service centre activities and trading business of TAD Metals and Steel Sider with 184 employees on the Italian stainless market. Annual volumes of around 60,000 tons of flat-rolled stainless steel and 10,000 tons of other steel products represent sales of over EUR 120 million. Negotiations are to be completed by mid-2003: however, the acquisition is subject to approval by the regulatory authorities and the supervisory bodies of the parent companies in question. TAD group is one of the leading distributors of flat-rolled stainless steel products in Western Europe and North America. With more than 60 branches worldwide, the group sells over 200,000 tons of steel products yearly.

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