Saarstahl Aktiengesellschaft has acquired Alblasserdam-based Dutch long steel manufacturer FNsteel BV. The company boasts one of the most modern processing plants in Europe specialising primarily in the production of high-quality cold heading steels for the automotive and construction industries. The acquisition means that Saarstahl Group strengthens its market position in the cold heading steel sector.
Cold heading steel is a high-quality steel specially developed for cold forming and enables the economical production of precision parts capable of withstanding the highest loads, it is claimed. Cold heading steels are characterized by high purity and formability, toughness and reliable strength.
Saarstahl claims that FNsteel is an ideal fit for its portfolio and that the company has many years of know-how in the production and further processing of these special steels.
"FNsteel has modern facilities, very good product quality and an established market position. This is an excellent fit for us and helps to consolidate our position in the field of cold heading steel."
Stefan Rauber, chairman of the executive board of Saarstahl
"FNsteel has modern facilities, very good product quality and an established market position. This is an excellent fit for us and helps to consolidate our position in the field of cold heading steel," explains Stefan Rauber, chairman of the executive board of Saarstahl. "The integration of FNsteel is in line with our strategy of further expanding our competitiveness and thus strengthening Saarland and Germany as an industrial location at the same time."
Jonathan Weber, chief transformation officer at Saarstahl, adds: "This acquisition strengthens and complements the know-how and production and innovation capacities of both companies in the long term and opens up new avenues for further growth. Our goal is to integrate the new plant quickly and effectively into our group of companies – in line with our strategy and the ongoing transformation process."
"We are pleased to become part of the Saarstahl family. Thanks to this solid foundation, we are convinced that we can further improve our offering and service to our customers – based on the strength of two high-performance brands and more than 85 years of experience in delivering high-quality long steel products."
Matthijs van der Schoot, CEO, and Bert Sterrenburg, CFO of FNsteel.
Matthijs van der Schoot, CEO, and Bert Sterrenburg, CFO of FNsteel, jointly commented: "Becoming part of a leading company in the field of long steel products opens up strong new opportunities for FNsteel. This step enables us to sustainably develop our business and exploit the full potential of FNsteel. We are pleased to become part of the Saarstahl family. Thanks to this solid foundation, we are convinced that we can further improve our offering and service to our customers – based on the strength of two high-performance brands and more than 85 years of experience in delivering high-quality long steel products."
The acquisition of FNsteel by Saarstahl is subject to approval by the relevant antitrust authorities and is expected to be completed by the end of the year.