Salzgitter Mannesmann Stahlhandel Austria, the Graz and Gratkorn-based subsidiary of Salzgitter Mannesmann Stahlhandel GmbH, has announced its sale to the ECCO Group. The acquisition of the company, which has an annual turnover of around EUR 60 million and 84 employees, is based on ECCO Group's expertise in the acquisition of spin-off business units.
Founded in 2012 with the acquisition of the business units of Graz-based Kovac Stahl GmbH, Salzgitter Mannesmann Stahlhandel Austria will be sustainably developed by the ECCO Group. Existing supply relationships with the Salzgitter Group will continue after the sale process and the business model will retain its cornerstones.
Dr. Daniel Ebert, Managing Partner of ECCO Group, said: "We highly value the company's high industrial competence and regional strength. We aim to maintain stability and realize new growth opportunities with the existing team."
Dr. Sebastian Bross, Chairman of the Board of Directors of Salzgitter Mannesmann Stahlhandel GmbH, stated that the sale decision was taken within the scope of the restructuring of the group and added, “This step paves the way for the successful continuation of business activities in challenging market conditions and provides stability for our employees and business partners.”
While the sale price is kept confidential by the parties, the transaction will be subject to the approval of competition authorities. There will be no changes in terms of employees, customers and business partners and the company will continue to serve with its existing team.
Comments
No comment yet.