Teufelberger Signs Definite Agreement for Acquisition of Steel Wire Rope Specialist Redaelli Tecna

By acquiring the Italian steel wire rope specialist Redaelli Tecna, on the the world market leaders in the design and production of steel wire rope, Teufelberger takes yet the biggest step toward expansion in more than 225 years of company history.

To strengthen its position in the steel wire rope business, Teufelberger has signed a definite agreement for the acquisition of the long-established Italian company Redaelli Tecna (“Redaelli”) from the Russian JSC “Severstal–metiz”. Redaelli is specialized in the design and manufacture of steel wire ropes for off-shore and on-shore oil&gas activities, mining, cableways, material transportation and hoisting, in the development and production of innovative systems for the tenso structures, and operates for the distribution, service and technical assistance business with its logistic rope center Teci. Hence, the two companies will complement one another ideally in terms of their product portfolios, by featuring a wealth of rope constructions and larger rope diameters and cater to a variety of applications with new opportunities for market distribution.

Florian Teufelberger, CEO of TEUFELBERGER stated: “We are convinced that Redaelli will be an enormous gain for Teufelberger. Together, we will now be able to offer customers a product portfolio of steel wire ropes and services that is unprecedented in the industry”.

Giuliano Ambroset, M.D. of Redaelli Tecna declared: “With TEUFELBERGER, we will become part of a long-term-oriented, stable family enterprise. The resulting synergies and the competences of Redaelli will open a wide range of opportunities for our companies”.

The closing of this deal is expected to take place in spring of 2017, subject to receipt of antitrust clearances and other customary closing conditions as agreed by the parties.

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