Salzgitter has acquired Thyrolf & Uhle, a German steel processor specializing in ballistic protection components, as the second-largest German steelmaker seeks to expand its presence in Europe’s growing defense sector.
The deal, announced on Feb. 11, gives Salzgitter access to Thyrolf & Uhle’s expertise in processing high-grade security steels, including 400, 450, 500, and 600 SECURE grades used in military vehicle construction and infrastructure protection, the German steelmaker said in a statement.
Thyrolf & Uhle, based in Dessau-Rosslau with around 100 employees, processes over 12,000 metric tons/year of steel at its facility and holds key certifications for manufacturing ballistic protection components under German military standards TL-2350-0000 and DIN 2303 Q3 BK.
The acquisition positions Salzgitter to capture growing demand for armored steel components as European nations boost defense budgets, the company said in the statement.
“This acquisition marks a further step in our active portfolio management involving targeted acquisitions in growth markets,” said Gunnar Groebler, CEO of Salzgitter AG. “Germany and Europe need an efficient defense industry with a qualified materials base in order to prevail in the face of geopolitical upheaval. This is precisely where we as Salzgitter AG are strengthening our offerings,” Groebler added.
Germany announced plans to significantly increase military spending following Russia’s invasion of Ukraine in 2022, driving demand for specialized steel products used in military vehicles and protective infrastructure.
Thyrolf & Uhle has operated as a steel processor since 1859, providing steel construction, component manufacturing, and sheet metal processing services. The company supplies steel components for both civil and military vehicle construction across Germany and Europe.
Financial terms of the transaction were not disclosed, with the transaction subject to the fulfillment of the agreed closing conditions, in particular, official approvals.
Platts, part of S&P Global Energy, assessed Feb. 10 domestic hot-rolled coil in Northern Europe at Eur650/mt ex-works Ruhr, stable day over day.
