Sudhakar Sivaji appointed CEO of Aperam, succeeding Tim Di Maulo
The ceo of stainless steel producer Aperam, Timoteo Di Maulo, is retiring after more than a decade at the helm.
The board of directors has appointed Sudhakar Sivaji, currently Aperam’s cfo, as ceo, with the transition taking effect from 1 January 2026, Kallanish notes from a company statement.
Sud Sivaji, who joined Aperam as cfo in 2020, brings nearly 25 years of industry experience in steel, alloys, and the aerospace sector. He has previously worked at Thyssenkrupp’s Steel and Materials Services businesses in leadership roles across Europe, the US, China, and Brazil.
Di Maulo will remain a member of the board of directors and as strategic advisor on European public affairs. Under his leadership, Aperam diversified its business and strengthened its circular model.
He established a four-segment structure, placed carbon reduction and recycling at the core of strategy, and reinforced trade defence and commercial excellence.
“Tim has been an outstanding leader, guiding Aperam through a period of profound transformation. He has built a stronger, more diversified, and more sustainable company, well prepared for future challenges,” says Lakshmi Mittal in a note.
Looking ahead Aperam aims to strengthen what is calls value leadership. Each division will concentrate on competitiveness and growth, as the company intends to reinforce its supply chain and implement major investments in Brazil, France, US, and across Europe.
Nicolas Changeur, ceo of service and solutions and cmo for Aperam Stainless Europe, has been appointed chief financial officer.
Natalia Capra France
Aperam agrees to acquire Universal Stainless
Stainless coil producer Aperam has agreed to acquire US specialty steel producer Universal Stainless & Alloy Products at $45.00/share, as part of its strategy to enhance its global presence in the alloys market, Kallanish notes.
Closing is expected in the first half of 2025. The transaction is valued at approximately $539 million, supported by five banks that will engage with the buyer in a bridge facility agreement.
This acquisition represents a significant step in Aperam’s strategic plan to enhance its market position, expand its geographic footprint, and diversify its product offerings by entering high-growth sectors, including aerospace and industrial applications. The transaction aligns with the Luxembourg-based company’s strategy to create a more differentiated and robust portfolio aimed at mitigating cyclicality and respond to market demand, especially within the US.
The merger is expected to facilitate access to new markets in both Europe and the US. The absence of overlap in the two companies’ commercial offerings and assets indicates that the merger is poised to generate synergies amounting to $30m annually. This will enhance the customer experience through a broader product portfolio, decreased lead times, mitigated supply risks, and expanded global customer service network.
“Our combined expertise and resources will allow us to deliver superior solutions that meet the growing demand for high-quality, sustainable solutions. This acquisition not only aligns with our long-term strategy but also strengthens our commitment to diversify into specialties in stainless steel and alloys and increasing exposure to more stable, high-margin industries.” Aperam chief executive Timoteo Di Maulo says.
Bridgeville, Pennsylvania-based Universal employs approximately 750 workers in the US. It produces semi-finished and finished specialty steels for the aerospace long-products market. In 2024 it is forecast to reach $330m revenue and approximately $70m adjusted Ebitda. The company achieved eleven consecutive quarters of year-on-year sales growth since Q4 2021, Aperam states.
Natalia Capra France
