Danieli has acquired a 30% stake in Novastilmec, an Italian supplier of high-performing processing lines for steel and non-ferrous metals, Kallanish notes.
This will allow Garbagnate Monastero-based Novastilmec to expand business volume, and Danieli to expand its product range of downstream finishing technology, Danieli says.
The firms aim to increase sales to downstream service centres worldwide, offering a larger range of slitting and cut-to-length lines.
In its fiscal year through June 2024, Danieli’s plant making division experienced revenue growth of 17% year-on-year to €3 billion, with Ebitda up 25% to €315 million. Together with Metinvest, the firm is building a €2.5 billion flat steel plant in Piombino, Italy.
Adam Smith Austria
