Voestalpine Acquires Specialty Steel Firms in Shanghai and Barcelona

BusinessDeals ♦ Published: April 7, 2016; 18:00 ♦ (Vindobona)

Voestalpine steel buys two specialty steel firms. With the purchase of Advanced Tooling Tek (ATT) in Shanghai, China, and the Sermetal Group in Barcelona, Spain, Voestalpine is enhancing its position as a producer of special steels. Both companies are specialized in the processing and sale of special steel products for tool and mold-making, a segment whose main customers are the automotive and electronics industries. Together ATT and the Sermetal Group have around 160 employees and generated a total revenue of around EUR 43 million in 2015.

Voestalpine Acquire Specialty Steel Firms in Shanghai and Barcelona / Picture: © Voestalpine AG

Just half a year ago the Voestalpine AG’s Metal Forming Division opened a new plant for production of high-strength automotive components in Shenyang, China.

Now the Special Steel Division is taking over its long-term Shanghai-based sales partner ATT, marking the next stage in the Group’s expansion in the Chinese market.

ATT has a staff of around 100 employees and…