Salzgitter sells the Austrian distribution division of Ecco
Salzgitter Mannesmann Stahlhandel GmbH, the distribution subsidiary of Salzgitter AG, is selling its Salzgitter Mannesmann Stahlhandel division in Austria to the Ecco Group.
The Austrian company Salzgitter Mannesmann Stahlhandel, based in Graz and Gratkorn, has an annual turnover of about 60 million euros ($68 million) and employs 84 people. Salzgitter AG established its Austrian division in 2012 by acquiring part of the Graz-based Kovac Stahl GmbH. The company is engaged in the production of flat rolled products, beams, pipes and fittings, says company representative[b]Kallanish.[/b].
According to Salzgitter, Ecco Group specializes in the acquisition and sustainable further development of corporate units. which are transferred to "independence" as part of the group allocation, the so-called "cutouts". As part of the transaction, all relevant business units and activities are transferred to the new owner.
The existing relationship with the previous owner and the Salzgitter Group's supply companies remains valid and will continue to operate for the next three years. According to Salzgitter, this is the foundation of the business model.
Christian Kel, Germany
kallanish.com