Austrian specialist steel company Voestalpine has bought Italian wire maker Trafilerie, expanding its product portfolio of wire for the car industry, Voestalpine said in a statement on Monday, without providing a purchase price.

The Italian company had revenues of 43.8 million euros ($52 million) in 2013 and produces around 50,000 tonnes of wire a year.

It will become part of Voestalpine's metal engineering division under the name of Voestalpine Trafilerie Industriali.