Salzgitter Mannesmann Stahlhandel GmbH, a subsidiary of Salzgitter AG, has announced the sale of its Austrian unit, Salzgitter Mannesmann Stahlhandel Austria, to the ECCO Group. The company, based in Graz and Gratkorn, generates approximately EUR 60 mln (USD 68 mln) in annual revenue and employs 84 staff, focusing on steel trading.
The ECCO Group specializes in acquiring and sustainably developing business units spun off from larger corporations, commonly known as carve-outs. As part of this transaction, all key operations and divisions of the Austrian subsidiary will be transferred to the new owner.
Originally established in 2012 following the acquisition of assets from Kovac Stahl GmbH, Salzgitter Mannesmann Stahlhandel Austria has grown steadily. The investor was selected to ensure continued growth and long-term development. Both parties emphasized their commitment to a strong, ongoing partnership beyond the change in ownership.
ECCO Group, known for its long-term strategic approach, will support the company’s transition to independent operations in close collaboration with the existing management team. Current supply relationships with Salzgitter AG and its production facilities will remain intact, continuing to anchor the business model.
There will be no changes for employees, customers, or partners. The company will retain its current team and continue to deliver the same quality and reliability. The purchase price remains undisclosed, and the deal is subject to antitrust approval.
1 USD / 0.88 EUR