Salzgitter Mannesmann Stahlhandel GmbH, the distribution subsidiary of Salzgitter AG, is selling its Salzgitter Mannesmann Stahlhandel Austria unit to the Ecco Group.
Salzgitter Mannesmann Stahlhandel Austria, based in Graz and Gratkorn, generates an annual turnover of around €60 million ($68m) and employs 84 people. Salzgitter AG founded the Austrian unit in 2012 through the acquisition of parts of the Graz-based company Kovac Stahl GmbH. It handles flat products, beams, tubes and fittings, a spokesman tells Kallanish.
According to Salzgitter, Ecco Group specialises in the acquisition and sustainable further development of corporate divisions and units that are transferred to independence as part of group spin-offs – so-called carve-outs. As part of the transaction, all relevant business divisions and activities are being transferred to the new owner.
The existing supply relationships with the previous owner company and with the Salzgitter Group’s supply plants will remain in place and will continue to form a mainstay of the business model, Salzgitter notes.
Christian Koehl Germany
