MRW Takes Over Dalmine stake in DMV Stainless

Mannesmannröhren-Werke AG, a subsidiary of Salzgitter AG, intends to take over the one-third stake in the stainless-tube producer DMV STAINLESS B.V. held by Dalmine SpA (Italy). A corresponding agreement having the approval of the third partner, Vallourec (France), was just signed. Following this transaction, which is still subject to the approval of the EU Commission, MRW will hold two thirds of the shares in DMV STAINLESS and will include the company in the scope of consolidation.

DMV STAINLESS ranks among the leading producers in the world of seamless steel tubing in high-grade steel and special materials. Last years sales amounted to 189 million. The company has a workforce of approximately 1,000.

The company was established in 1994 as a European joint venture uniting the activities of Dalmine, Mannesmannröhren-Werke and Vallourec in the sector seamless stainless steel tubing. Four national companies are operating under the umbrella of a holding company in Italy (Costa Volpino), Germany (Remscheid), France (Montbard) and USA Houston).