Sale of Borusan Mannesmann participation concluded

• Active portfolio management driven forward
• Further implementation of the “Salzgitter AG 2030” Group strategy
• Cash generated through the successful transfer of the participation

The Salzgitter Group has now successfully transferred its 23% participating share in Borusan Mannesmann Boru Yatirim Holding A.S., Turkey, to the co-owner Borusan. The buyer Borusan ranks as one of the leading international steel tube manufacturers. The company maintains locations in Turkey, Italy, Romania and the USA.
 
As Burkhard Becker, Chief Financial Officer of Salzgitter AG, stated: "With this successful transaction, we are underlining our active portfolio management, which we are pursuing with major steps forward as part of our "Salzgitter AG 2030" Group strategy. We believe that the sale offers Borusan and its employees the best development opportunities in a significant market environment."
 
Already in April 2023, Borusan had acquired the company Berg Pipe (USA) from EUROPIPE GmbH, in which Salzgitter Mannesmann GmbH and AG der Dillinger Hüttenwerke each hold 50% of the shares.