Austrian technology group ANDRITZ AG Thursday (June 27) announced that it has signed an agreement to acquire Salico Group, based in Italy and Spain. The deal includes its units in the UK, USA, and India. The financial terms of the transaction were not disclosed.
The acquisition is expected to close within the next few weeks.
Salico, founded in 1978, manufactures advanced finishing equipment for metal flat strip processing. The company with locations in five countries and a manufacturing base in and around Molteno, Italy records annual revenues in the range of 100 million euros.
ANDRITZ said the deal marks an important step in its strategy to become the full-line supplier for the entire downstream portfolio in the ferrous and non-ferrous industries.
Guido Burgel, Senior Vice President, Metals Processing at ANDRITZ said, "By combining Salico's experience in all standard finishing lines with our expertise in high-strength tension and multi-roll leveling lines, we are broadening our technology portfolio to address a wider range of customer needs. This acquisition allows us to offer our customers the whole downstream process from ANDRITZ and provide comprehensive, innovative solutions for efficient and reliable operation of finishing lines throughout their lifecycle."
