SSAB has announced that it signed an agreement with France’s Jacquet Metal to acquire Abraservice. The latter is a company supplying products in quenched and tempered steels, Kallanish learns from SSAB.
The acquisition is subject to approval by authorities, but should be closed in the second half of 2019. Abraservice operates with 10 processing centres and 12 sales offices across 11 countries (including France, Germany and Italy).
Even after the deal is confirmed, the company will continue to operate as a separate unit as part of the SSAB group, and will retain its name. Abraservice is expected to “… benefit from SSAB support and expertise, extended product range and global geographical coverage to expand its strong market position in distribution and fabrication of parts in Europe and beyond,” the Swedish high strength steel specialist says.
“The Abraservice network is well aligned with SSAB Services strategy of providing products and services to machine builders and the aftermarket business. The acquisition will help us to further improve our direct relationship with customers and end-users, as well as address new market segments. The workforce of Abraservice has recognised experience and the skills of local management and employees will combine with SSAB in an excellent way,” says head of SSAB Services, Gregoire Parenty.