Salzgitter AG’s sale of Borusan Mannesmann stake completed

In a final sale, the Salzgitter group has now successfully transferred its 23% stake in Turkish entity Borusan Mannesmann Boru Yatirim Holding A.S. to co-owner Borusan. The buyer, Borusan, is one of the leading international manufacturers of steel pipes with locations in Turkey, Italy, Romania and the United States.

Burkhard Becker, Chief Financial Officer at Salzgitter AG, said:

“With this successful transaction, we are underlining our active portfolio management, which we are vigorously pursuing as part of our Salzgitter AG 2030 group strategy. We believe that the sale offers Borusan and its workforce the best opportunities for development in an important market environment.”

In April, Borusan had acquired US-based company Berg Pipe from Europipe GmbH, in which Salzgitter Mannesmann GmbH and AG der Dillinger Hüttenwerke each hold 50% of the shares.