Only relatively small acquisitions were made in the first three quarters of 2013/14, which, however, were consistently directed toward creation of greater added value. In late 2013, the Welding Technology business segment of the Metal Engineering Division purchased Maruti Weld Pvt. Ltd., which is headquartered in Delhi; the company specializes in welding electrodes and represents an expansion of the product portfolio. It has 180 employees and in 2012, it generated annual revenue of EUR 6.7 million.
In the first quarter of the current business year, the Welding Technology business segment also took over the Italian company Trafilerie di Cittadella S.p.A/FILEUR (for details, please refer to the Q1 2013/14 Letter to Shareholders).
The Special Steel Division acquired Eifeler France, another Eifeler Group company. This acquisition, which was completed in December 2013, is part of the acquisition of a total of nine Eifeler Group companies, in Germany, Switzerland, and the USA, in late March 2013. The Group specializes in the development and application of special coating technologies, particularly for the tool industry. Most recently, Eifeler France reported annual revenue of EUR 1.6 million; it has 15 employees.
The Q1 2013/14 Letter to Shareholders contained an already detailed report regarding another acquisition by the Special Steel Division, the corporate group Rieckermann Steeltech Ltd. (Shanghai) and P.M. Technology Ltd. (Shenzhen), which was completed at the beginning of the business year.