EANS-News: Salzgitter AG takes over part of the operations of Kovac Stahl, Graz/Austria
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Mergers - Acquisitions - Takeovers Salzgitter/Graz (euro adhoc) - Salzgitter AG/Germany has signed a contract to acquire the Graz- and Gratkorn-based operations of Kovac Stahl, Graz/Austria. Kovac Stahl, which has a workforce of around 130 employees, operates steel trading and steel service center activities at its various locations. With shipments of more than 40,000 tons, the company generated sales of approximately EUR 47 million in 2011. Salzgitter AG's Trading Division's has strengthened its market position in Austria through the acquisition of these Kovac Stahl sites and will be represented in future in this market through its own warehouse location. Moreover, the transaction has extended the divison's portfolio in the field of thermal separating technologies revolving around laser cutting. The Graz and Gratkorn locations were founded by the Kovac family and managed as family business to date. The prerequisites for the ongoing success and further growth of these operations under the roof of Germany's second-largest steel manufacturer have been put in place. The parties have agreed to not disclose the purchase price. The acquisition is subject to approval by the anti-trust authority. Further inquiry note: Bernhard Kleinermann +49 (0) 5341/21-1852 ir@salzgitter-ag.de end of announcement euro adhoc -------------------------------------------------------------------------------- company: Salzgitter AG Eisenhüttenstraße 99 D-38239 Salzgitter phone: +49 (0) 5341-21-3783 mail: info@salzgitter-ag.de WWW: http://www.salzgitter-ag.de sector: Iron & Steel ISIN: DE0006202005 indexes: Midcap Market Index, MDAX, CDAX, Classic All Share, Prime All Share stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf, Stuttgart, regulated dealing/prime standard: Frankfurt language: English
Original content of: Salzgitter AG, transmitted by news aktuell