Italian re-roller Marcegaglia has finalised the purchase of 100% of the capital of plate producer Evraz Palini & Bertoli from Russian steelmaker Evraz. The deal has been done through its subsidiary Marcegaglia Plates for a value of €40 million ($44m), Kallanish learns from Marcegaglia.
The new acquisition is part of the plan to strengthen the capacity of Marcegaglia Plates and will create a new player capable of producing 1 million tonnes/year of plate. The expanded subsidiary will have 200 employees.
Sources in the company tell Kallanish that the acquired company has been renamed Marcegaglia Palini & Bertoli. It will benefit from operational and commercial synergies, the reroller says, and new investment of approximately €15m over the next two-to-three years aimed at strengthening its competitiveness.
Palini & Bertoli has 108 employees and an annual turnover of €216m. It specialises in the manufacturing of heavy quarto plates with over 400,000 t/y of capacity.
Palini e Bertoli’s plate mill is located in San Giorgio di Nogaro and sells its products in Europe and North America. Marcegaglia’s plate production division is also located in the dedicated unit of San Giorgio di Nogaro. It also has a production capacity of 400,000 t/y.