The two big mills in the German state of Saarland have become partners in the steel trading platform Mapudo, which was founded in 2014.
Engineering steel maker Saarstahl and plate maker Dillinger Hütte have invested a one-digit million euro amount through their joint capital venture unit SHS Ventures. Their contribution is shared by two further investors, NRW.Bank and HR Ventures, Kallanishnotes.
With its investment, the SHS group wants to extent its value-added chain, but also give a boost to its internal and external digitalisation. “We want to use the know-how of Mapudo to offer our customers the ideal mix of distribution channels,” says Saarstahl sales chief Klaus Richter, commenting on the ongoing diversification of sales processes.
Mapudo will use the money to improve and expand its platform, and to boost marketing to become more popular, says its managing director Sebastian Grethe, formerly of thyssenkrupp Materials.
Mapudo works like a virtual warehouse in which distributors list their products (see Kallanish passim). Buyers looking for a product will be linked with sellers, and can place their order immediately online. The fee, paid by the stockist, is a one-digit percentage of the transaction price, with a maximum and a minimum cap.