Caleotto: Feralpi will take over Duferco’s Holding
AWAITING THE GO-AHEAD FROM THE ANTI-TRUST AUTHORITY
The Feralpi Group will be taking over the 50% share currently held by Duferco Italia Holding in the Lecco company Caleotto SpA, thereby obtaining full control. The new arrangement is awaiting the formal approval of the Anti-Trust Authority.
Therefore five years after forming the equal joint venture that led Feralpi and Duferco to taking over and relaunching the major rolling mill in Lecco, situated in the centre of a well-established drawing mill district devoted to export, the share structure will change.
This decision is a result of the industrial development taking place in both Groups. In particular, Feralpi has developed significantly in the special steels sector, as in the case of the wire rod produced by Caleotto, considered to be a strategic sector for the Group. Duferco has major investments in progress relating to the rolling mill process for beams and rolled products, including a new rolling mill in Brescia, where it has focused its resources.
The operational partnership between the two companies will not end. The continuity of the production plan will be ensured in spite of a fairly weak reference market, i.e. the automotive sector first and foremost. In fact the Caleotto rolling mill will be continuously replenished with billets (the semi-finished product that supplies the rolling mill process) from both the Feralpi Group, through Acciaierie di Calvisano, and the Duferco Group, to ensure consistency in industrial operations.
“For the Feralpi Group, taking over Caleotto means entering a market with high added value, in line with the aim to make the special steel business unit a pillar of the strategic development plan”, explains Lorenzo Angelini, Caleotto’s Managing Director. “Not only does Caleotto represent a rolling mill of longstanding tradition where Feralpi and Duferco have invested in innovative technologies, it also encompasses a set of skills that make it a competitive business on the national and international stage”, he continues.
We have worked closely with the Feralpi Group in the past five years”, commented Domenico Campanella, Managing Director of Duferco Italia Holding. “It is a Group we hold in very high esteem and will continue to work with, by supplying Caleotto with our billets. We have come to know the Lecco area as a district with considerable steelmaking experience, and have engaged with customers based locally and further afield, developing solid partnerships due in part to extensive plant investment. The strategic decisions made alongside Feralpi have led to the takeover of Caleotto, showing these decisions to be sound. Duferco is now facing a new challenge however. Our industrial landscape will change in the coming years, thanks to the new beam rolling mill being implemented in Brescia along with Nucor. This is a significant step requiring a concentration of human resources and capital.”
In the spirit of continuous industrial vision and commercial operations, Caleotto will be returning to the international Wire 2020 trade fair this year, to be held in Düsseldorf from 30 March to 3 April.