Cogne Acciai Speciali SpA has signed a contract with Salzgitter AG to acquire Mannesmann Stainless Tubes GmbH with its subsidiaries and operating plants in Germany, France, Italy and the USA.

Mar 15, 2024

Leading global producer of long stainless steel products and nickel alloys Cogne Acciai Speciali SpA has signed a contract with Salzgitter AG to acquire Mannesmann Stainless Tubes GmbH with its subsidiaries and operating plants in Germany, France, Italy and the USA.

As per a statement released by Cogne Acciai Speciali SpA, Mannesmann Stainless Tubes is a leading manufacturer of seamless stainless steel and nickel alloys tubes & pipes, having a global presence and a top-notch customer base.

Mr. Massimiliano Burelli, Chief Executive Officer of Cogne Acciai Speciali, said the agreement was an amazing step towards the materialization of their strategy, as it ensured both the downstream verticalization and an additional saturation of the Aosta Steel Melting Shop. 

He said Cogne Acciai Speciali was honoured to bring home an incredibly competent and engaged team, with a long-lasting history in the steel industry. The combination of the company with Mannesmann Stainless Tubes would fuel a transformational effect. The move would allow Mannesmann to strategically integrate upstream and become an even more successful player in the global market.

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He said the process was expected to be completed in the next few months. The transaction was subject to customary closing conditions and regulatory approvals by the competition authorities, and would be carried out as a share purchase deal.

Cogne Acciai Speciali was supported by lawyer Vittorio Noseda and his team from ADVANT-Nctm, the statement added.