Cogne Acquisition of Outokumpu Long Products AB in Sweden
Signed on 31/03/2023 the contract which settles the acquisition of Outokumpu Long Products AB in Sweden, namely the Degerfors and Storfors Plants, by Cogne Acciai Speciali.
With this divestment Outokumpu Group exits completely from the stainless steel long product business and Cogne Acciai Speciali strengthen its position in big bars production.
Massimiliano Burelli, Chief Executive Officer of Cogne Acciai Speciali declares: “Today’s agreement is the first building block of the announced growth strategy to strengthen furthermore our position of global leader in specialty stainless steel long products. We are delighted to bring Outokumpu Long Products team onboard, whose competence and professionality are of paramount importance to support our expansion strategy, which will lay also upon the supply of blooms and billet from the Aosta site. This acquisition also allows the possibility to integrate and develop the product distribution in Nordics and Baltics regions”.
We expect to complete the process in the next months. The transaction is subject to customary closing conditions and regulatory approvals by the competition authorities, and it will be carried out as a share purchase.
About Cogne Acciai Speciali
Cogne Acciai Speciali (CAS) is a world leading manufacturer of stainless steel and nickel alloys long products located in Aosta, Italy, providing manufacturing services of melting, casting, rolling, forging and machining.
CAS has a niche market for industrial certification products, includes stainless steels and nickel alloys long products, valve steels for automotive and tailor-made products on customers drawing in special steels. CAS has a leading position in the European market with sales offices in more than 15 countries around the world. Since December 2022 Cogne is part of Walsin Lihwa Corporation.