Teufelberger has signed a definite agreement for the acquisition of Italian steel wire rope specialist Redaelli Tecna from JSC Severstal–metiz.
According to the Austrian-based company, this acquisition is the biggest step toward expansion in more than 225 years of Teufelberger’s history.
Redaelli is specialized in the design and manufacture of steel wire ropes for offshore and onshore oil & gas activities, mining, cableways, material transportation and hoisting, in the development and production of innovative systems for the tenso structures, and operates for the distribution, service and technical assistance business with its logistic rope center Teci.
Florian Teufelberger , CEO of Teufelberger, stated: “We are convinced that Redaelli will be an enormous gain for Teufelberger. Together, we will now be able to offer customers a product portfolio of steel wire ropes and services that is unprecedented in the industry.”
Giuliano Ambroset , M.D. of Redaelli Tecna, said: “With Teufelberger, we will become part of a long-term-oriented, stable family enterprise. The resulting synergies and the competences of Redaelli will open a wide range of opportunities for our companies.”
The closing of this deal is expected to take place in spring of 2017, subject to receipt of antitrust clearances and other customary closing conditions as agreed by the parties.