Voestalpine AG, based in Austria, announced the successful conclusion of negotiations for the sale of its German subsidiary, Buderus Edelstahl. While the acquiring party has been identified as the private equity firm Mutares, the financial details of the transaction remain undisclosed.
The sale is reportedly subject to confidentiality regarding financial terms. Completion is expected in the fourth quarter of this year, pending the receipt of all necessary regulatory approvals from competition authorities.
Herbert Eibensteiner, CEO of Voestalpine AG, stated, “We have been intensively looking for investors, talking to many companies and exploring various options. With Mutares, we have found a prestigious investor with extensive experience in managing companies in times of transformation to take over Buderus Edelstahl. The sale is aimed at optimizing the product portfolio of the High Performance Metals Division, which will strengthen its global market position in the long term.”
Johannes Laumann, Chief Information Officer of Mutares, emphasized the importance of this strategic acquisition for the company: “With the acquisition of Buderus Edelstahl, we are further strengthening our engineering & technology segment in the area of steel components and securing our own steel base.”
Voestalpine's High Performance Metals unit is undergoing a strategic change following the sale of Buderus Edelstahl. Facing intense competition in the European market, the company has decided to reduce its production of standard tool steel and high quality engineering steel and will now focus on advanced technology products.
This strategic realignment will enable Voestalpine to concentrate its resources on higher-value-added, innovative product lines. The company will prioritize the development and production of specialty alloys and advanced materials for application in the aerospace, automotive, and energy sectors.
As a result of the acquisition, Dettingen, Schmelln, Schwäbisch-Gmünd, and Böhmkirch facilities will be integrated into a unified production network, leveraging their combined expertise. However, the Birkenfeld plant will be closed due to unsustainable financial performance.
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