Feralpi Group set to gain full control of Caleotto Steelworks

Feralpi Group is set to gain full control of Caleotto Steel Mill, acquiring the remaining 50% of the stake previously held by Duferco Italia Holding. The transaction is awaiting formal approval by the Antitrust Authority, but bets are off.

Five years after the start of the equally owned joint venture that led Feralpi and Duferco to acquire the Italian steelworks, the shareholding structure is about to change.

The decision was a strategic choice of both Groups: Feralpi has become considerably stronger in the special steel sector, while Duferco is investing its resources in a new rolling mill in Brescia (Italy).

Therefore, the cooperation between the two companies will not end. The production plan will be given continuity despite the critical market situation, especially in the automotive industry. Feralpi Group and Duferco Group will, in fact, continue to supply Caleotto Steel Mill with their billets to guarantee the production consistency.

“For the Feralpi Group - explains Lorenzo Angelini, Chief Executive Officer Caleotto - entering Caleotto meant entering a market with high added value. Caleotto is not only a technologically advanced steel mill boasting a century-old tradition, but it also features a set of skills that make it a competitive industrial company on the national and international market alike.”

“In the last five years we have been working closely with Feralpi Group, we hold them in high esteem and we are happy to keep feeding Caleotto Steel Mill with our billets” - comments Domenico Campanella, A.D. of Duferco Italia Holding.

In line with the company vision, Caleotto will be attending the international trade show wire 2020, to be held in Düsseldorf from March 30 to April 3.