Zlomrex S.A. has finalized the purchase of nearly 75% of the shares in the Austrian company Voestalpine Stahlhandel for €93 million.
The Polish company operates in the market of metallurgic products made of steel or non-ferrous metals, steel scrap, non-ferrous metals scrap as well as intermediate products of steel and non-ferrous metals alloys.
According to the terms of the share purchase contract, the company will be able to buy the remaining 25% stake within the next two years. The total cost of the investment will then come to €103 million ($137 million). The acquired company distributes steel products in Austria and the CEE region (the Czech Republic, Croatia, Romania, Slovenia, Hungary, Slovakia and Poland). The group owns eight warehouses handling steel products in Austria and is the leader on the local retail market. It generates sales revenues of approx. €400 million. (polishmarket.com)