Cogne Acciai Speciali SpA signed at 26/01/2024 a contract with Com.Steel SpA to acquire a 65% stake in Com.Steel Inox SpA, a recently incorporated company specialising in the recovery and treatment of stainless steel and nickel alloys scrap located in Calusco d’Adda, in the province of Bergamo (Italy).
Massimiliano Burelli, Chief Executive Officer of Cogne Acciai Speciali, commented: „The acquisition of a majority stake in our main supplier of stainless steel scrap marks the first stage of our upstream verticalisation strategy. This ensures the circularity of our operations, also by optimising the composition of our scrap feedstock and reducing our dependence on ferroalloys, thus improving our carbon footprint. Com.Steel Inox will retain its independence, with the ambition of operating and expanding both domestically and internationally. The management will continue to be independently overseen by the brothers Andrea and Edoardo Pensotti in their capacity as CEOs“.
Eugenio Marzorati, Executive Vicepresident of Cogne Acciai Speciali, commented: “I am especially pleased with the signing of this operation, a plan the company had been carefully considering for several years and which is achieved today also thanks to the perfect harmony between all the shareholders. Cogne Acciai Speciali will continue to implement its growth strategy through M&A operations involving both vertical and horizontal integration“.
Andrea Pensotti, Chief Executive Officer of Com.Steel, commented: „We are honoured to become part of Cogne Acciai Speciali. This will foster our organic growth and support the implementation of our strategy while maintaining our independence“.
We expect the process to be completed in the coming months. The transaction is subject to the approval of the competent authorities and it will be finalised as a purchase of shares.
Simone Nigrisoli
Responsabile Relazioni Esterne
Cogne Acciai Speciali S.p.A.