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Group subsidiary Voestalpine Wire Technology has acquired 100% of the shares in the company based in Treviso, Italy, which will now trade under the new name of Voestalpine Trafilerie Industriali.
It has a production capacity of 50,000 tpy, mainly of blank wire and drawn wire for the automotive industry, and around 80 employees. Its revenue in 2013 was €43.8 million ($51.8 million).
“This acquisition will further deepen the customer-specific value-added chain for premium-quality grades, as well as reflect the division’s strategic positioning and demands of the market,” Franz Kainersdorfer, Voestalpine’s managing board member and head of its metal engineering division, said.
The purchase price was not revealed.
Vienna-listed Voestalpine Group has around 500 production and sales companies in more than 50 countries, with a special focus in Europe catering for the automotive and consumer goods industries.
Voestalpine has fully acquired Italian special wires manufacturer Trafilerie Industriali, the Austrian steelmaking group said on Monday January 12.