Associated tags: Strip steel, Salzgitter AG, Salzgitter
Locations: DEUTSCHLAND, GERMANY, DEUTSCHLAND, FRANKREICH, ITALIEN, USA, USA, FRANCE, ITALY
Retrieved on:
Wednesday, April 10, 2024
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Bank Consolidated external sales decreased to € 10.8 billion, due above all to the downtrend in average revenue for steel products.
Key Points:
- Consolidated external sales decreased to € 10.8 billion, due above all to the downtrend in average revenue for steel products.
- Business development in the first quarter of 2024 continued to be impacted by the adverse circumstances in the second half of 2023.
- As a result, EBITDA contracted to € 677.0 million (2022: € 1,618.2 million) and earnings before taxes to € 238.4 million (2022: € 1,245.4 million).
- The result includes a contribution of € 40.0 million from Aurubis AG (2022: € 156.3 million), an investment included at equity (IFRS accounting).
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Wednesday, April 10, 2024
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Retrieved on:
Wednesday, March 13, 2024
Continuing its active portfolio management, the Salzgitter Group has now sold the Mannesmann Stainless Tubes Group (MST) to the Italian company Cogne Acciai Speciali in accordance with the best-owner principle for a purchase price of € 135 million corresponding to the net book value.
Key Points:
- Continuing its active portfolio management, the Salzgitter Group has now sold the Mannesmann Stainless Tubes Group (MST) to the Italian company Cogne Acciai Speciali in accordance with the best-owner principle for a purchase price of € 135 million corresponding to the net book value.
- Cogne Acciai Speciali is an international group of companies with production facilities on three continents and sales offices in all economically significant regions of the world.
- The Mannesmann Stainless Tubes Group produces seamless stainless steel and nickel-based tubes at its sites in Germany, France, Italy and the USA.
- Accordingly, the products of the Mannesmann Stainless Tubes Group are predominantly deployed in power plant construction and in the chemical and petrochemical industries.
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Wednesday, March 13, 2024
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Saturday, December 30, 2023
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Retrieved on:
Saturday, December 30, 2023
Key Points:
- Salzgitter.
- At its meeting on December 7, 2023, the Supervisory Board of Salzgitter AG extended the contract of CEO Gunnar Groebler until 2029.
- Gunnar Groebler has been active as a member of the Executive Board of Salzgitter AG since May 2021 and Chairman of the Executive Board since July 2021.
- As Heinz-Gerhard Wente, Chairman of the Supervisory Board, commented: "During his tenure to date, Gunnar Groebler has initiated and driven key decisions for the Salzgitter Group forward.
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Thursday, December 14, 2023
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Retrieved on:
Thursday, December 14, 2023
Key Points:
- Salzgitter.
- The Salzgitter Group has now successfully transferred its 23% participating share in Borusan Mannesmann Boru Yatirim Holding A.S., Turkey, to the co-owner Borusan.
- The buyer Borusan ranks as one of the leading international steel tube manufacturers.
- We believe that the sale offers Borusan and its employees the best development opportunities in a significant market environment."
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Thursday, December 14, 2023
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Wednesday, August 30, 2023
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Renewable energy Salzgitter Klöckner-Werke GmbH, a wholly owned subsidiary of Salzgitter AG (“the Salzgitter Group”), has entered into a revamped € 1.03 billion syndicated loan agreement.
Key Points:
- Salzgitter Klöckner-Werke GmbH, a wholly owned subsidiary of Salzgitter AG (“the Salzgitter Group”), has entered into a revamped € 1.03 billion syndicated loan agreement.
- The company’s existing € 560 million credit line was raised to € 680 million, with a new € 350 million guarantee facility baked into the contract as well.
- An ESG rendezvous clause is currently in the works; it will make the agreement the Salzgitter Group’s first-ever sustainability-linked loan.
- According to Salzgitter AG CFO Burkhard Becker, “Our new syndicated financing is a very strong pillar in our financial strategy.