News

20. December 2023

Ad hoc announcement pursuant to Art. 53 LR
Ƶ announces that its subsidiary, Ascometal France Holding, enters into exclusive negotiations with Acciaierie Venete for the sale of several production sites in France

Lucerne, December 20, 2023

  • Ascometal France Holding, a subsidiary of Ƶ, a leading producer of special long steel solutions, enters into exclusive negotiations with Acciaierie Venete, a leading Italian steelmaker, who has firmly committed to take-over several production sites in France.
  • The contemplated transaction is fully aligned with Ƶ’s strategic program “SSG 2025” and its reorganization for a resilient future.

The contemplated transaction encompasses Ascometal France Holding’s subsidiaries operating the plants of Hagondange (Moselle), Custines (Meurthe-et-Moselle), and Le Marais (Loire), and the activities and workforce of CREAS, Ascometal's research center.

Ƶ is pleased that Ascometal France Holding has found a reliable and experienced partner in Acciaierie Venete, with industrial synergies, boasting an ambitious plan to strengthen the Ascometal plants of Hagondange, Custines and Le Marais. The contemplated transaction aligns with Ƶ’s commitment to sustainable practices and its strategic plan, which would support its transformation into a robust and best-in-class special long steel player, leading the green transformation in Europe.

The contemplated transaction also aligns with Ƶ’s strategic focus on core business activities for further stabilization of the Group and long-term profitability. The transaction would allow Ƶ to strategically channel its investments into areas that promise sustained growth in alignment with its long-term vision and strengthening other production assets such as the French Ugitech.

Acciaierie Venete has firmly committed to complete the contemplated transaction, which will be submitted to the relevant employee representative bodies of Ascometal. The transaction is subject to the completion of a number of conditions precedent, including the approval of the relevant regulatory authorities. Subject to these conditions being met, completion is expected in spring 2024.

The remaining two subsidiaries of Ascometal France Holding, the Les Dunes (Dunkirk, Nord) and Fos-sur-Mer (Bouches-du-Rhône) plants, are not concerned by the transaction; options for ensuring their long-term future are still under study by all Ascometal stakeholders.

For further information:

For media queries:
Anina Berger, anina.berger(at)swisssteelgroup.com, +41 (0)41 581 4121

For media queries in France:
Frédérique Tissot, frederique.tissot@swisssteelgroup.com,+33 6 26 18 03 72

For analyst/investor inquiries:
Burkhard Wagner, burkhard.wagner(at)swisssteelgroup.com, +41 (0)41 581 4180



 

About Ƶ
Ƶ with headquarters in Lucerne (Switzerland) is one of the world’s leading producers of special steel long prod-ucts. Thanks to the exclusive use of steel scrap in electric arc furnaces, the Group is one of the most relevant companies in Europe in the circular economy and is among the market leaders in the field of sustainably produced steel - Green Steel. Ƶ has its own production and distribution entities in over 30 countries and, through its strong local presence, offers a wide range of individual solutions in the fields of engineering steel, stainless steel, and tool steel. Ƶ is listed on the SIX Swiss Exchange and generated a revenue of over EUR 4 billion in 2022 with approximately 10,000 employees.



show this