Italy’s Eusider has acquired a 100% shareholding in Steel Metal Service Holding Gmbh from investment fund Auctus Capital Partners, Kallanish learns from Eusider.
An Italian antitrust authority document obtained by Kallanish says Steel Metal Service Holding, through Auctus Project Italy, owns Italian tubemaker Profiltubi, which in turn owns re-roller OMV-Officine Metallurgiche Ventura serving the automotive and appliances sectors.
The document states the merger does not “involve the establishment or strengthening of a dominant position”. In an interview with broadsheet Il Sole 24 Ore, Eusider owner Eufrasio Anghileri says the move enables the company to widen its product offer in the tube sector. He adds that last year, the group posted €1 billion ($1.08 billion) in turnover as the company registered weaker prices but mostly stable sales volumes. For 2024, the firm expects stable performance.
Natalia Capra France
