Avesta Sheffield acquires French stainless steel service centre

Avesta Sheffield acquires French stainless steel service centre Avesta Sheffield has reinforced its position in the French market with the acquisition of the Deroulinox stainless steel service centre, located in Tours. The purchase price was FFR 22 million and the purchase will be effective from 1 November, 2000. Deroulinox specialises in stainless coil products and has been a partner to Avesta Sheffield in France for 10 years. The acquisition is a natural development of this co-operation. The acquisition includes premises, two cut- to-length lines and belt polishers. Deroulinox has 24 employees and its present volume of approximately 12,000 tonnes per annum will be expanded significantly as a result of this transaction. The acquisition strengthens Avesta Sheffield's position in France, where tailor made products, flexible order lot sizes and JIT deliveries are an increasing requirement. Avesta Sheffield's acquisition is a further step in its continuous process of value added investments in the major European markets. For further information please contact Sune Eriksson, VP Sales & Marketing, Avesta Sheffield AB, telephone +46 8 613 36 17. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/08/16/20000816BIT01010/bit0001.doc http://www.bit.se/bitonline/2000/08/16/20000816BIT01010/bit0002.pdf