Danieli acquires stake in Novastilmec
Danieli has acquired a 30% stake in Novastilmec, an Italian supplier of high-performance process lines for the production of steel and non-ferrous metals, Kallanish notes.
This will allow Novastilmec, based in Garbagnate-Monastero, to expand its business, and Danieli, according to Danieli, the company intends to expand its product range in the field of post-processing technology.
Companies are striving to increase sales in service centers around the world by offering a wider range of slitting and length-cutting lines.
During the fiscal year, which runs until June 2024, the Danieli plant, the revenue of the production division increased by 17% year-on-year to 3 billion euros, and Ebitda increased by 25% to 315 million euros. Together with Metinvest, the company is building a 2.5 billion euro sheet metal production plant in Piombino, Italy.
Adam Smith Austria
kallanish.com