Avesta Welding AB in Böhler-Uddeholm Group
|
|
Avesta Welding is now entering a new phase in its development, as part of the Böhler-Uddeholm Group, an international, specialty steel and materials company with a specific focus on welding.
|
|
We are happy to announce the successful closing of the acquisition made by Böhler-Uddeholm of Avesta Welding AB and all its welding related activities.
By this, Avesta Welding will now be part of the third largest supplier of welding consumables in the world.
The anti-trust authorities in Austria, Germany and Poland granted unconditional approval to the aquisition of Avesta Welding AB by Bohler-Uddeholm AG and it was closed by the end of October 2005.
This follows an agreement signed in July 2005 between Bohler-Uddeholm AG and Outokumpu (Finland) for the aquisition of the Welding business of Outokumpu by Bohler-Uddeholm AG.The acquisition covers Avesta Welding (AB) Sweden and its subsidiary PT Avesta Welding (Indonesia) as well as the welding consumable related distribution activities of Outokumpu.These businesses generate revenues of approximately Euro 38 mio worldwide with circa 160 employees.
Despite the closing of the transaction and the fact that Avesta Welding has a new owner, a certain cooperation with Outokumpu, its former owner, will continue.
Avesta, November 1, 2005
|