Skip Navigation

Capital market-relevant press releases, 2003-05-06, 02:00 AM

ThyssenKrupp Acciai Speciali Terni and TAD sign contract to take over stainless steel business of TAD Metals in Italy

Only four months after signing a letter of intent the Italian TAD Group and ThyssenKrupp Acciai Speciali Terni S.p.A. closed their negotiations. ThyssenKrupp Acciai Speciali Terni is to take over the Service Centers and the Trading business of TAD Metals S.p.A. and Steel Sider S.p.A. on the Italian stainless steel market effective May 1, 2003 (volume per year about 60,000 metric tons stainless steel, 10,000 metric tons other steel products, sales exceed 130 million euros). The contract has been signed subject to the approval of the respective Supervisory Boards and the Italian anti-trust authorities. The Executive Boards of ThyssenKrupp AG and ThyssenKrupp Steel AG have already approved the deal.

Dr. Ulrich Middelmann, Chairman of the Board of ThyssenKrupp Steel AG, underlines the significance of the acquisition: "This strategic investment will foster the position of ThyssenKrupp Stainless as the world market leader in stainless steel flat." Dr. Helmut G. Hadrys, Chairman of ThyssenKrupp Stainless GmbH, said: "By this acquisition the new Management of ThyssenKrupp Acciai Speciali Terni will improve the proximity to end users and offer value-adding services closely linked to our core competences. This will strengthen ThyssenKrupp Acciai Speciali Terni`s leading position in Europe`s second biggest market for stainless flat steel."

TAD Metals is one of the most important distributors of stainless flat steel in Europe and the USA. A network of 60 warehouses and Service Centers distributes more than 200,000 t per year of steel products.

ThyssenKrupp Steel AG
Erwin Schneider
Tel.: +49 203 / 52 - 2 56 90
Fax: +49 203 / 52 - 2 57 07

Dietmar Stamm
Tel.: +49 203 / 52 - 2 62 67
Fax: +49 203 / 52 - 2 57 07

To the top