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ThyssenKrupp buy majority stake in Slovakien steel trader

Düsseldorf-based ThyssenKrupp Services AG is branching out further into C&E Europe by acquiring 80% stake in the Slovakian company Ferostav spol. s.r.o., headquartered in Nove Zámky, as of October 1, 2007. The takeover is subject to the approval of ThyssenKrupp AG’s Supervisory Board on September 5.

Founded in 1996, the company presently has a workforce of around 200 that in 2006 generated sales of about €95 million. Ferostav spol. s.r.o. is the third-largest steel trader in Slovakia and has nine locations including those in Bratislava, Nove Zamky, Trnava and Martin. The company specializes in services for steel sheet/plate, reinforcing steel, steel bars and rods, structural and sectional steel, H-beams, and pipes and tubes. Its clients are located particularly in the construction and mechanical engineering industries.

“The takeover complements our successful C&E European operations and represents another dynamic step toward market penetration and the extension of our product and services lineup," states Joachim Limberg, Deputy CEO ThyssenKrupp Services and CEO of ThyssenKrupp Materials International. “This will allow us to weave an ever-closer distribution network so that we can serve our customers even more quickly and efficiently." ThyssenKrupp Services already operates companies in Bulgaria, the Czech Republic, Hungary, Poland, Romania, Russia, and Ukraine. (azom.com)