Steelmaker ArcelorMittal has completed the acquisition of Italpannelli, a specialized manufacturer of insulation panels for roofs and facades, it said in a statement May 31.
The acquisition includes two production sites operated by Italpannelli SRL in in Abruzzo, Italy and Italpannelli Iberica in Zaragoza, Spain.
According to ArcelorMittal, the two facilities operate seven production lines with a capacity of 13 million sq m/year of sandwich panels, serving the Central and Eastern European, French, German, Italian and Spanish markets.
Italpannelli will be incorporated into ArcelorMittal’s construction-focused subsidiary, ArchelorMittal Construction.
The company said the acquisition adds considerable strategic value to ArcelorMittal Construction, including access to new markets and an expanded product portfolio.
The latest announcement marks the second acquisition of Italpannelli businesses by ArcelorMittal, following the purchase of Italpannelli Germany in March 2023.
ArcelorMittal Construction CEO Jean Christophe Kennel said Italpannelli had built a formidable reputation as a high-quality supplier of lightweight sandwich panels and was “highly regarded in the market for its service and delivery.”
Platts, part of S&P Global Commodity Insights, assessed domestic prices for HRC in South Europe at Eur625/mt EXW Italy on May 30, unchanged on the day.
