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Klesch Group inks pact to Italian steel makers the Leali Group

Steel News - Published on Fri, 22 Feb 2013

The Klesch Group announced the conclusion of an agreement to purchase the main assets of The Leali Group, a prominent steel producer in Northern Italy. This acquisition is part of the expansion of The Klesch Group’s metals activities.

The Leali Group has a total capacity of 650,000 tonnes and employs 250 people at 3 manufacturing sites in Odolo and Valsugana, located in Northern Italy. The Group sells approximately 200,000 tonnes of Special Bar Quality steel products per year from the Odolo bar mill to strategic customers in the region.

The agreement includes a period of consultation with the unions, banks, customers and other key stakeholders. The final stage of the acquisition is anticipated to conclude at the end of the year.

Mr A Gary Klesch founder & Chairman of The Klesch Group said “This investment gives us an excellent opportunity to diversify our metals platform, as well as expand our European presence. We intend to maintain and grow the name and image of The Leali Group with both our customers and business partners.”

The Klesch Group is a global industrial commodities business, with three divisions specialising in the production and trading of chemicals, metals and oil. Founded in 1990 and headquartered in Geneva, The Klesch Group has revenues in excess of EUR 5 billion and employs more than 4,500 people across 40 locations in over 16 countries around the world.

Source - Klesh Group

(www.steelguru.com)

Posted By : admin on Fri, 22 Feb 2013
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