Swiss Steel Group divests several non-core distribution companies

Swiss Steel Group, a world leader in special long steel, today signed a definitive agreement for the sale of several distribution companies to JACQUET METALS, a leader in the distribution of specialty metals.

The transaction encompasses entities in the Czech Republic, Poland, Slovakia, Hungary, Lithuania, Estonia and Latvia that have generated a total net revenue of EUR 158 million and an EBITDA of EUR 12 million in 2022 with 267 employees by selling mostly non-Swiss Steel Group products. This divesture is an important step for Swiss Steel Group on its strategic pathway focusing on a global distribution network that promotes and sells own mill products.

This is the second significant agreement between the longtime business partners Swiss Steel Group and JACQUET METALS following the sale of distribution entities in Germany, Austria, Belgium and the Netherlands in 2015. With this transaction Swiss Steel Group and JACQUET METALS will expand their already existing business relationship and will continue to cooperate as reliable partners.

Completion of the transaction is subject to customary closing conditions including approval by the relevant anti-trust authorities. The parties have agreed to maintain confidentiality regarding the purchase price.

Source and Photo: Swiss Steel Group

In accordance with IFRS 5, Swiss Steel Group will classify the disposal group as Held for Sale in its annual report 2022 foreseen to be published on March 8, 2023.