SCHMOLZ + BICKENBACH, a global player in special long steel, confirmed an offer for a takeover of Asco Industries assets.
The interest in an acquisition of Asco Industries assets is in accordance with the strategy of SCHMOLZ + BICKENBACH to play an active role in the consolidation of the European special long steel industry.
With a workforce of roughly 1 500 employees, Asco Industries achieved revenues of EUR 500 million in 2015.
SCHMOLZ + BICKENBACH reported 2.3 billion in sales and employed around 8 900 people in 2016. A successful acquisition would create one of the leading European companies in high value long steel products.
Strategic rationale of the offer is a strong fit of Asco Industries French assets and the plants of SCHMOLZ + BICKENBACH Group. This would result in a more efficient production strategy and therefore increase the utilization rates of each plant.
Any potential transaction is still subject to several conditions. There is no guarantee that a submission of an offer will ultimately lead to a transaction.