Thyssenkrupp sells Italian stainless steel unit to Arvedi [Financial Post (Toronto, Ontario, Canada)]
THYSSENKRUPP AG S/ADR (TKAMY)
NASDAQ:AMEX Investor Relations:
thyssenkrupp.com/en/investors
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Source: Financial Post
The German group's Acciai Speciali Terni (AST) division is Europe's fourth-largest stainless steel producer behind Finnish rival Outokumpu, Luxembourg-based Aperam and Spain's Acerinox. 17 best online deals in the Canadian retail space right now Advertisement AST has been on Thyssenkrupp's list of potential disposal candidates for years and marks the biggest item in list of businesses it wants to sell, restructure or close. Advertisement Article content “This transaction has a compelling industrial rationale for Arvedi Group, which becomes stronger by successfully completing its product mix,” said Arvedi President Cavaliere Giovanni Arvedi said. “Furthermore, this transaction is strategic for the whole Italian economy and represents an initial step towards new, exciting developments.” The deal, which also covers AST's associated sales organization in Germany, Italy and Turkey, is expected to close in the first half of 2022. No purchase price was disclosed. A sourc
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