voestalpine AG — M&A Activity 2001

Dec 6, 2001

News Details

Ad-hoc | 6 December 2001 08:14

voestalpine AG english

Rotec acquires the british tube manufacturer elmsteel Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Rotec acquires the british tube manufacturer elmsteel voestalpine reaches another step towards automotive industry ROTEC GmbH, Monheim (Germany), a company of the voestalpine AG, which is active in the production and processing of precision steel tubes, and the Elmsteel Group (United Kingdom), which is engaged in the processing of precision tubes, have reached agreement to merge their businesses, in the course of which Rotec GmbH acquires 100% of the shares of Elmsteel Group. The contracts will be signed today. The consolidated turnover of the Rotec/Elmsteel Group will be around EUR 150 million in 2002. Elmsteel is a major supplier of tube components to many of the world’s leading automotive manufacturers. The company now operates from three purpose-built factories in the UK, US and Poland and employs 200 people worldwide. In business year 2001 the turnover of Elmsteel will amount around EUR 32 million, profitability is above the average of voestalpine group. end of ad-hoc-announcement (c)DGAP 06.12.2001 ——————————————————————————– WKN: 093750; ISIN: AT0000937503; Index: ATX Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Frankfurt, Hamburg, München, Stuttgart; London 060814 Dez 01