Franz Haniel & Cie GmbH (Haniel) continues with its portfolio transformation and has signed a Share Purchase Agreement with Luxembourg-based Aperam SA (Aperam) to sell ELG Haniel GmbH (ELG).
ELG will be acquired as a complete group and continue to operate as a fully separate company, serving its customers in their best interests. The transaction is subject to the customary regulatory approvals and expected to close in the second half of 2021.
ELG, a specialist in trading, processing, and recycling raw materials for the stainless-steel industry as well as high-performance materials such as superalloys and titanium, has been part of the Haniel portfolio since 1983. In the past 40 years, the division has developed into a leading company in its sector. A sales process was initiated last year and ELG was already reported as a “discontinued operation” in the 2020 financial statements.
Aperam is a global producer of stainless, electrical and specialty steel headquartered in Luxembourg. With 9,400 employees, a capacity of 2.5 million tons of flat stainless steel in Brazil and Europe, and an industrial network concentrated in six key production facilities in Brazil, Belgium and France, Aperam is a global industry leader. The company serves customers in over 40 countries and is committed to sustainable management of the environment and finite resources.
Through the acquisition and next to expanding into complementary geographies and industries, Aperam aims to move forward to the centre of the circular economy and further improve its environmental performance.