Wickede (Ruhr)/Hagen, November 10, 2015 – Wickeder Westfalenstahl GmbH and the Waelzholz Group sign an agreement on the acquisition of Wickeder’s Cold-Rolled Steel Strip product group. For both companies, the impending change of hands for “Cold-Rolled Steel Strip”, with an annual sales volume of over 50,000 tons, signifies an important strategic decision. The acquisition is currently awaiting approval by the antitrust agency.
With its sale to the long-standing company Waelzholz, Wickeder Westfalenstahl will take an additional step toward focusing on its core business activities and their systematic expansion in the future. The Wickeder Group is currently the global market leader in clad materials and thermostatic bimetals. Since its founding in 1913, Wickeder Westfalenstahl has strengthened its market position through continued product innovations and strategic acquisitions. It maintains plants in Europe, the Americas, and Asia. The Wickeder Group, which includes the companies Wickeder Westfalenstahl, Auerhammer Metallwerk, Deutsche Nickel, micrometal, and Engineered Materials Solutions, has its strategic focus on specific technically demanding niches and product groups. The product group “Cold-Rolled Steel Strip,” on the other hand, is situated in a market environment that is a perfect fit for Waelzholz as a supplier for high-quality cold-rolled steel strip for demanding applications. With over 1,100 employees working in nine plants, the Wickeder Group generated 320 million Euros in 2014.
The acquisition will enable the Waelzholz Group to expand its core business with cold-rolled steel strip to include additional specialty products in the area of electrical steel, especially for e-mobility applications. Waelzholz is a medium-sized group of companies and a leading manufacturer of cold-rolled and heat-treated steel strips and profiles. Founded in 1829 as a family-owned enterprise and based in Hagen, Germany, the group currently employs over 1,900 people around the world. The market leader produces more than 600,000 tons of high-quality cold-rolled steel products each year at nine sites in Europe, North and South America, and Asia. Waelzholz primarily caters to customers from the automobile industry, energy producers and consumers, and companies in the industrial goods sector such as producers of construction equipment, electrical appliances, and cutting dies.
Wickeder Westfalenstahl and Waelzholz will collaborate closely during the transition of activities at the Wickede site. This will allow both companies to continue delivering the highest standards in service and product quality to their customers in the future.
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