With the purchase of Advanced Tooling Tek (ATT) in Shanghai, China, and the Sermetal Group in Barcelona, Spain, voestalpine is enhancing its global leadership 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.
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 generated revenue of around EUR 16 million in 2015.
One of the most important product segments served by this special steel sales and processing specialist is large injection molds which are used in the automotive industry for the manufacture of plastic parts such as headlights. The products are also sold to the electronics industry.
The second acquisition made by the Special Steel Division was in Europe, with the purchase of the four sales and service sites belonging to the Sermetal Group in Spain and Portugal. Sermetal is the market leader on the Iberian Peninsula in plastic mold steel for the automotive industry, and generated with its 60 employees revenue of around EUR 27 million in 2015.
Special Steel Division
The voestalpine AG’s Special Steel Division is focused on technologically sophisticated materials and customer-specific services. Due to its unique sales and service network at 150 sites around the world it offers customers material availability and processing as well as local points of contact.
The division is a global market leader for tool steel and one of the leading providers of high-speed steel, valve steel, and special forgings. The most important customer segments are the automotive, oil and natural gas exploration, and mechanical engineering industries as well as the consumer goods and aerospace industries.
In the business year 2014/15, the division reported revenue of around EUR 2.8 billion, of which 40% was generated outside Europe, and an operating result (EBITDA) of EUR 407 million; it had around 13,500 employees worldwide.
Source: voestalpine AG