Degussa sells steel operations to Germany's Arques
31 August 2004 10:19 [Source: ICIS news]
The acquisition concerns SKW Stahl-Technik, SKW Metallurgie's stake in Jamshedpur Injection Powder Ltd of
In 2003, the divested companies generated over Euro100m ($120m) in sales with 220 employees.
In 2000, Degussa announced plans to divest its metallurgical operations to focus solely on specialty chemicals. Selling the steel activities represents one of the last stages of this divestment programme, the firm said.
Starnberg-headuartered Arques will double its sales through the SKW Metallurgie acquisition, said Degussa. Last year Arques made net profits of more than Euro5m on sales of about Euro28.7m.
By: Russell Ong
+44 208 652 3214
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