Swiss trading firm Trasteel has acquired Italian re-roller Profilmec, Kallanish learns from Trasteel.
The merger reflects the trader’s ambition to verticalise and boost and diversify its re-rolling capacity. The company intends to increase sales and re-rolled volumes output to 1.5 million tonnes/year, it says in a note.
The acquisition was backed by a pool of banks including Crédit Agricole Italy, UniCredit, BNL-B-NP Paribas and MPS Capital Services as warrant lead arranger. Crédit Agricole acted as loan agent.
Turin-based Profilmec has seven production facilities in the north of Italy and an annual production capacity of 350,000t of re-rolled tubular products.
In line with its verticalisation strategy, in 2020 Trasteel completed the acquisition of Officine Tecnosider, an Italian plate rolling mill, located in the northeast of the country. Trasteel holds majority control over the plant. The mill has a capacity of almost 400,000 t/y of plate, rolled from slab (see Kallanish 24 April 2020).
Natalia Capra France