thyssenkrupp has announced the sale of Acciai Speciali Terni (AST), including the associated sales organization in Germany, Italy and Turkey, to the Italian company Arvedi. This marks another major milestone in the realignment of the group.
The transaction is subject to approval by the Supervisory Board of thyssenkrupp AG and merger control clearance. The closing of the transaction is expected in H1 of 2022.
AST group currently employs around 2,700 people and generated sales of around 1.7 billion € in the fiscal year 2019/2020. With the sale, thyssenkrupp is disposing of the fourth portfolio company in the Multi Tracks segment. This is a further important step in the transformation of thyssenkrupp into a high-performing “Group of Companies”.
Arvedi’s core business is primary steel production and processing. The company currently employs over 3,500 people. Arvedi has announced significant investments in connection with the acquisition of AST.