Structural steel group company Severfield announced that it has acquired Voortman Steel Construction (VSCH), a European steel-construction group, for €24 million.
With its headquarters in Rijssen, the Netherlands, VSCH Holding will allow Severfield to establish a production base in Europe.
Aiming to dominate the European market more with its investment, Severfield plans to operate in areas such as design and construction services for the electricity distribution sector, which is growing day by day, and simple structures, and to advance by offering attractive opportunities for these areas.
Following the acquisition, Severfield shares rose 0.2% to 61p in London on Wednesday morning.
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