Sale of Borusan Mannesmann participation concluded
EQS-News: Salzgitter Aktiengesellschaft / Key word(s): Disposal
Sale of Borusan Mannesmann participation concluded
29.11.2023 / 12:00 CET/CEST
The issuer is solely responsible for the content of this announcement.· *Active portfolio management driven forward*
· *Further implementation of the “Salzgitter AG 2030” Group strategy*
· *Cash generated through the successful transfer of the participation*
* *
Salzgitter. The Salzgitter Group has now successfully transferred its 23% participating share in Borusan Mannesmann Boru Yatirim Holding A.S., Turkey, to the co-owner Borusan. The buyer Borusan ranks as one of the leading international steel tube manufacturers. The company maintains locations in Turkey, Italy, Romania and the USA.
As Burkhard Becker, Chief Financial Officer of Salzgitter AG, stated: "With this successful transaction, we are underlining our active portfolio management, which we are pursuing with major steps forward as part of our "Salzgitter AG 2030" Group strategy. We believe that the sale offers Borusan and its employees the best development opportunities in a significant market environment."
Already in April 2023, Borusan had acquired the company Berg Pipe (USA) from EUROPIPE GmbH, in which Salzgitter Mannesmann GmbH and AG der Dillinger Hüttenwerke each hold 50% of the shares.*Salzgitter AG *is one of Germany's leading steel and technology groups.
As a pioneer in the Circular Economy, we focus on the sustainable innovation and transformation of our products and processes in the business areas of steelmaking, steel processing, trading and technology.
With our "Salzgitter AG 2030" strategy and the principle of "Pioneering for Circular Solutions", we are setting new standards in the industry. Our aspirations are realized through strong initiatives and programs such as SALCOS^® - Salzgitter Low CO[2] Steelmaking. With partnerships and in networks, we are actively driving forward the further development towards a circular economy.
With around 25,000 employees worldwide in 150 national and international subsidiaries and associated companies, we live up to our global claim to growth, profitability and our pioneering position. In the fiscal year 2022 we generated external sales of around €12 billion with a crude steel capacity of 7 million tons.
Contact:
Markus Heidler
Head of Investor Relations
Salzgitter AG
Eisenhüttenstraße 99
38239 Salzgitter
Phone +49 5341 21-6105
Fax +49 5341 21-2570
E-Mail ir@salzgitter-ag.de --------------------
29.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Salzgitter Aktiengesellschaft
Eisenhüttenstraße 99
38239 Salzgitter
Germany
Phone: +49 5341 21-01
Fax: +49 5341 21-2727
E-mail: info@salzgitter-ag.de
Internet: www.salzgitter-ag.de
ISIN: DE0006202005
WKN: 620200
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1784581
End of News EQS News Service