Győr, February 2015
The Győr-located subsidiary of Danish Group IAI Holding AS, Ib Andresen Industri Magyarország Kft., is focusing on the activity of a steel service center (“SSC”) operator for sheet metal and metal processing as well as rolling. The Company is further offering the service of slitting and precision cutting of steel coils.
ThyssenKrupp Group is present in more than 80 countries with its steel activity. The Hungarian ThyssenKrupp, Ferroglobus, is active within the area of basic element services, where it focuses on the distribution of steel and other metals, but also performs SSC activities.
In the transaction, according to the Seller, the Company’s domestic growth opportunities were significantly limited and the owners did not see the possibility of the Company’s stable and long-term profitability. Operating since 2005, the Company was continuously showing losses on the domestic market, one of the reasons being the relatively low annual tonnage volumes. With this transaction, ThyssenKrupp’s Ferroglobus Kereskedelmi Zrt. further strengthens its domestic presence and, under the name of Materials Processing Hungary Kft., plans on operating with a close to 200,000 ton capacity.
In February 2016, the Hungarian Competition Authority (Gazdasági Versenyhivatal, GVH) granted authority for this acquisition.
Concorde MB Partners advised the Seller in this transaction.