Voestalpine has finalized negotiations for the sale of its German subsidiary, Buderus Edelstahl, to Mutares SE & Co. KGaA, a well-known investment company based in Wetzlar, Hessen. The sale is pending approval from the relevant competition authorities, and the parties have agreed not to disclose the purchase price. Voestalpine anticipates that the transaction will be completed by the end of Q4 2024.
With this sale, Voestalpine’s high-performance metals division aims to focus its product portfolio on technologically advanced high-performance materials while reducing its production of standardized tool steel and high-grade engineering steel. This shift comes as these products face increasing pricing pressures due to competition from outside Europe.
Buderus Edelstahl has nearly 300 years of history and has been part of Voestalpine AG since 2007. It is a leading manufacturer of high-quality standard and special steels, primarily used in vehicle manufacturing, plant and mechanical engineering, and tool and mold construction.
