Pittini acquires Steelag

Italian long steelmaker Pittini has completed the acquisition of German producer of electro-welded products and wire rod derivatives Steelag GmbH through its holding company Compagnia siderurgica italiana.

The acquisition represents a step forward in Pittini’s consolidation and internationalisation ambitions, besides strengthening its distribution network outside of Italy.

“The expansion of our product range through Steelag’s industrial and commercial structures will allow us to further consolidate our presence in the markets of Central and Eastern Europe while reinforcing the process of production verticalisation that has always been at the heart of our industrial and product strategies,” president Federico Pittini says in a note sent to Kallanish. The steelmaker says it is now channelling more than 70% of its turnover outside of Italy.

Based in Aichach, Bavaria, Steelag counts two production plants in the Czech Republic and one in the Slovak Republic. The firm has a yearly production capacity of over 200,000 tonnes, which can be derived entirely from the processing of Pittini wire rod. The Italian steel producer boasts an annual production capacity of 2 million tonnes.

Natalia Capra France