As part of the implementation of the Group’s growth strategy, the business year 2013/14 saw several acquisitions that were modest individually but that have considerable importance for the Group’s further development. While the acquisitions in the Metal Engineering Division primarily expanded its product portfolio, the acquisitions made by the Special Steel Division were intended to extend the customer-specific value chain and to bolster the accelerated internationalization process.
Specifically, at the beginning of the business year 2013/14, the Metal Engineering Division acquired and fully integrated the Italian company Trafilerie di Cittadella S.p.A. voestalpine Böhler Welding Group GmbH took over 90% of the shares of this company, which specializes in the production of seamless flux cored wire. The Italian company, which has 60 employees, generated annual revenue of EUR 13.7 million in 2012.
The Welding Technology business segment acquired the Indian company Maruti Weld Pvt. Ltd., which is headquartered in Delhi, and which specializes in manufacturing welding electrodes. The acquisition of this company, which has 180 employees and generated annual revenue of EUR 6.7 million in 2012, will enable the Group to accelerate the penetration of the Indian growth market. It has modern facilities and will provide an outstanding, regional production base.
With the takeover in the first quarter of 2013/14 of the assets of Rieckermann Steeltech Ltd. (Shanghai) and P.M. Technology Ltd (Shenzhen) with workforces totaling around 100 employees, the Special Steel Division continued to enhance its position in China, a future-oriented market. These production and service sites were acquired within the scope of an asset deal, enabling further expansion of the distribution and service areas. Moreover, the acquisition supports the division’s focus on sophisticated special materials in the growth industries of energy and mobility.
The acquisition of Eifeler France S.a.r.l. in December 2013 is also allocated to the Special Steel Division; this was a follow-up to the acquisition of the Eifeler Group in late March 2013 with a total of nine companies in Germany, Switzerland, and the USA. Most recently, Eifeler France S.a.r.l. reported annual revenue of EUR 1.6 million; it has 15 employees.