In the first half of 2024/25, voestalpine Böhler Welding Group GmbH acquired a majority stake in the premium welding wire manufacturer Italfil S.p.A. voestalpine Böhler Welding Group GmbH is part of the Metal Engineering Division and plays a leading global role in welding technology. As a full-range supplier of welding solutions, the company offers a unique portfolio of welding consumables, accessories, welding equipment, and services.
The Italian company Italfil has 110 employees and most recently generated annual revenue of EUR 43 million. For voestalpine Böhler Welding, the acquisition of Italfil means an expansion of the product portfolio for unalloyed and low-alloyed solid wires for semi and fully automated high-quality welding applications. The acquisition is therefore another important step towards providing complete welding solutions. The future supply of Italfil with high-quality wire rod from Donawitz, Austria, will also deepen the value chain.
As described in the 2023/24 Annual Report, the Management Board of voestalpine AG decided in March 2024 to initiate the process of selling Buderus Edelstahl. Restructuring steps have already been taken in recent years at the special steel company based in Wetzlar, Germany. On October 22, 2024, the negotiations for the sale of the German Group subsidiary were concluded with the signing of the contract. The investment company Mutares SE & Co. KGaA will acquire Buderus Edelstahl, subject to approval by the relevant competition authorities. The transaction is expected to be finalized by the end of the fourth calendar quarter of 2024.
With the sale of Buderus Edelstahl, the High Performance Metals Division is focusing its product portfolio on the technologically sophisticated segment of high-performance materials and reducing the production share of tool steel and engineering steel in the standardized segment, which has come under increasing price pressure due to growing competition from non-European competitors. A valuation adjustment of EUR –81 million was made to EBITDA in the 2024/25 half-year financial statements on the basis of existing binding offers.