(RTTNews) - Mutares SE & Co. KGaA (MUX.DE, MUTRF), a Germany-based holding company, on Friday said it has completed the acquisition of Greer Steel Co, Inc., a provider of cold-rolled strip steel, from Greer Industries, Inc., for undisclosed terms.
The company said that the transaction strengthens its Engineering & Technology segment and expands its footprint in North America.
Greer Steel is headquartered in Dover, Ohio, and specializes in cold-rolled strip steel products, including high carbon, low carbon, high-strength low-alloy and alloy steels, serving automotive and industrial end markets.
In 2024, Greer Steel shipped more than 18,000 tons, generated 96% of sales in the U.S. and 4% in Canada, and employed approximately 110 people, with automotive accounting for about 60% of revenue.
Mutares plans to support Greer Steel through operational improvements, inventory optimization and targeted investments, including an ERP carve-out and integration measures.
Mutares closed trading 1.87% higher at EUR 30 on the XETRA.
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