thyssenkrupp: Italian AST sold to Arvedi group

(CercleFinance.com) - thyssenkrupp today announced the sale of Acciai Speciali Terni (AST), including the associated sales organisation in Germany, Italy and Turkey, to the Italian company Arvedi, thus achieving another major milestone in the realignment of the group.
The parties have agreed not to disclose the purchase price.

AST group currently employs around 2,700 people and generated sales of around E1.7 billion in fiscal year 2019/2020. With the sale, thyssenkrupp is disposing of the fourth portfolio company in the Multi Tracks segment.

Martina Merz, CEO of thyssenkrupp AG: “This fourth transaction shows once again clearly that we are working through our priorities and making decisive progress in the transformation of thyssenkrupp”.

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