Voestalpine has acquired Advanced Tooling Tek (ATT) in Shanghai and the Sermetal Group in Barcelona, to enhance its special steel production.
Both companies operate in the processing and sale of special steel products for tool and mould-making, a segment whose main customers are the automotive and electronics industries.
Together ATT and the Sermetal Group have around 160 employees and generated total revenue of around EUR43m (US$49m) in 2015.
Six months ago, Voestalpine Metal Forming Division opened a new plant for production of high-strength automotive components in Shenyang, China. Now the Special Steel Division is taking over its long-term Shanghai-based sales partner ATT, marking the next stage in the Group’s expansion in the Chinese market.
ATT has a staff of around 100 employees and generated revenue of around EUR16m in 2015. One segment served by the special steel sales and processing specialist, is large injection moulds used in the automotive industry for the manufacture of plastic parts such as headlights.
The second acquisition made by the Special Steel Division was in Europe, with the purchase of the four sales and service sites belonging to the Sermetal Group in Spain and Portugal.
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Sermetal is the market leader on the Iberian Peninsula in plastic mould steel for the automotive industry and generated revenue of around EUR27m in 2015.
“The ATT and Sermetal acquisitions are in line with our strategy of focusing growth in the expanding mobility sector and consistently extending the value chain towards the end customer,” said Voestalpine board member and Head of the Special Steel Division, Franz Rotter.
“The new sales and service centres bring Voestalpine even closer to its customers and enable the Group to offer high-tech finishing as well as complete products in special steel.
“At the same time, the acquisitions further enhance our global market leadership in tool steel for sophisticated applications.”
Voestalpine Special Steel Division provides high-speed steel, valve steel, and special forgings. The most important customer segments are the automotive, oil and natural gas exploration and mechanical engineering industries, as well as the consumer goods and aerospace sectors.
In the business year 2014/15, the division reported revenue of around EUR2.8bn, of which 40% was generated outside Europe and an operating result (EBITDA) of EUR407m.
Voestalpine has around 13,500 employees worldwide.