Swiss Steel has signed a definitive agreement for the sale of several distribution subsidiaries to Jacquet Metals, a distributor of specialty metals, Kallanish learns from the SBQ steel maker.
The transaction encompasses entities in Czech Republic, Poland, Slovakia, Hungary, Lithuania, Estonia and Latvia. Together, these generated a total net revenue of €158 million ($168m) and Ebitda of €12m in 2022, with 267 employees, by selling mostly non-Swiss Steel products. The divestment is an important step for Swiss Steel on its strategic path focusing on a global distribution network that promotes and sells own mill products, the steelmaker notes.
It is the second significant agreement between Swiss Steel and Jacques Metals, following the sale of distribution entities in Germany, Austria, Belgium and the Netherlands in 2015. With this transaction, the two expand their already existing business relationship and will continue to cooperate as reliable partners, they say.
Completion of the transaction is subject to customary closing conditions including approval from the relevant anti-trust authorities.
Christian Koehl Germany