Become a member Register now
Happy 
xMas Holidays
xMas Holidays
xMas Holidays
|
EQS-News: Salzgitter Aktiengesellschaft
/ Key word(s): Disposal
Salzgitter. Continuing its active portfolio management, the Salzgitter Group has now sold the Mannesmann Stainless Tubes Group (MST) to the Italian company Cogne Acciai Speciali in accordance with the best-owner principle for a purchase price of € 135 million corresponding to the net book value. The transaction is subject to regulatory approvals by the authorities. As Burkhard Becker, Chief Financial Officer of Salzgitter AG, commented: "We are pursuing active portfolio management with strategic acquisitions and growth steps, as well as sales of companies that are not part of our defined development areas. This approach is an integral part of our "Salzgitter AG 2030" Group strategy. Cogne provides MST and its employees further reaching entrepreneurial opportunities within the new network, and ranks as a renowned industrial partner." Cogne Acciai Speciali is an international group of companies with production facilities on three continents and sales offices in all economically significant regions of the world. Cogne manufactures long products in stainless steel (austenitic, martensitic, ferritic, duplex and super-duplex grades) and nickel-based alloys for aerospace, automotive, energy – and in particular the oil and gas – industry as well as serving the medical technology sector, the food industry, chemical and plant engineering, in addition to general mechanical engineering. The Mannesmann Stainless Tubes Group produces seamless stainless steel and nickel-based tubes at its sites in Germany, France, Italy and the USA. Stainless steel provides material-related advantages over normal carbon steel in terms of corrosion and heat resistance, for example. Accordingly, the products of the Mannesmann Stainless Tubes Group are predominantly deployed in power plant construction and in the chemical and petrochemical industries. As a stainless-steel tube manufacturer, MST is not integrated into the Salzgitter Group's supply of primary materials. Contact: Markus Heidler Head of Investor Relations Salzgitter AG Eisenhüttenstraße 99 38239 Salzgitter Phone +49 5341 21-6105 Fax +49 5341 21-2570 E-Mail ir@salzgitter-ag.de
20.02.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Salzgitter Aktiengesellschaft |
| Eisenhüttenstraße 99 | |
| 38239 Salzgitter | |
| Germany | |
| Phone: | +49 5341 21-01 |
| Fax: | +49 5341 21-2727 |
| E-mail: | info@salzgitter-ag.de |
| Internet: | www.salzgitter-ag.de |
| ISIN: | DE0006202005 |
| WKN: | 620200 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1840443 |
| End of News | EQS News Service |
|
|
1840443 20.02.2024 CET/CEST
P R O D U C T S U G G E S T I O N S
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.
