Buderus Edelstahl, a wholly owned subsidiary of Mutares, has agreed to sell its two business units, the hot rolling and mechanical processing including heat treatment, to GMH Gruppe.
The transaction is expected to be completed in the fourth quarter of 2025.
Mutares acquired Buderus Edelstahl in February 2025 from the Austrian steel and technology group voestalpine AG as a classic carve-out asset. The company is a renowned manufacturer of high-quality special steels with a focus on tool steel and high-grade structural steel, a broad global customer portfolio, and annual revenues of approximately €360m.
Following the initial successful optimisations and transformation measures implemented on-site since the acquisition, progress has already been made in optimising manufacturing processes.
In order to pursue the further necessary transformation steps, the two business areas of hot rolling and mechanical processing including heat treatment will be sold to GMH Gruppe, which will strengthen and further expand its portfolio in the special steels sector with this acquisition.
Despite difficult market conditions, this step has secured approximately 670 jobs at the Wetzlar site in the long term. Due to the continuing challenging market conditions in the steel industry, the drop forging division will also be sold to the FerrAl United Group (100% subsidiary of the Mutares Group).
According to current plans, the remaining division will cease operations in the fourth quarter of 2025.
