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Italy’s Cogne Acciai Speciali SpA will purchase Mannesmann Stainless Tubes GmbH from Salzgitter AG. The acquisition includes the company’s Salzgitter Mannesmann Stainless Tubes USA Inc. plant in Houston.

Mannesmann Stainless Tubes is active in the manufacture and commercialization of seamless stainless steel and nickel alloys tubes and pipes, with a global presence and a top-notch customer base, Cogne executives said.

“[This] agreement is an amazing step toward the materialization of our strategy, as it ensures both the downstream verticalization and an additional saturation of the Aosta Steel Melting Shop. We are honored to bring home an incredibly competent and engaged team, with a long-lasting history in the steel industry: the combination with our company will fuel a transformational effect,” said Massimiliano Burelli, CEO of Cogne Acciai Speciali. “This move will allow Mannesmann Stainless Tubes to strategically integrate upstream and become an even more successful player in the global market."

The transaction is expected to be completed over the next few months.

Cogne Acciai Speciali is a world leader in the production of long stainless steel products and nickel alloys.